The Fair Share Report
29 Bourbon St
Wayne, NJ 07470
The town corrects for market drift once a year — but only on average. This report measures whether this house drifted with the herd or away from it.
This home's full record →Check another house →
Step 1 · Market value
Likely range $603,283 – $1,061,842, from 12 comparable Wayne sales in the past 18 months (home size estimated from assessor data — range widened).
Step 2 · The Director's Ratio
The state's official measure of how far Wayne assessments sit below market value — republished every October, applied town-wide. A $862,058 home should be assessed near $308,789.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $32,111 above what the ratio math suggests (10.4%).
Step 4 · The tax rate — same for every Wayne home
$3.337 Schools · 56% $1.251 County · 21% $1.409 Town · 23%
Step 5 · The bill
This home vs. every recent Wayne sale · assessed ÷ market
19%62%
Paying about right
This home's ratio lands inside Wayne's normal band. The drift hasn't singled it out — no case for a tax appeal.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 16 MOUNTAIN RD | 2025-04 | $999,999 | 2,585 | 25.6% |
| 16 MOUNTAIN RD | 2025-01 | $995,000 | 2,585 | 25.7% |
| 10 QUINCY CT | 2025-06 | $881,800 | 2,604 | 38.0% |
| 214 WEBSTER DR | 2025-01 | $870,000 | 2,689 | 40.5% |
| 1360 HAMBURG TPKE | 2025-05 | $440,000 | 2,600 | 35.6% |
| 49 PONDS CIRCLE | 2025-04 | $660,000 | 2,633 | 31.9% |
| 1360 HAMBURG TPKE | 2026-03 | $685,000 | 2,748 | 25.2% |
| 1360 HAMBURG TPKE | 2025-07 | $520,000 | 2,755 | 31.3% |
| 9 GATES PLACE | 2025-11 | $1,100,000 | 2,756 | 30.9% |
| 119 PLEASANT VW DR | 2025-10 | $865,000 | 2,646 | 34.1% |
| 70 VERKADE DR | 2025-06 | $1,200,000 | 2,693 | 27.3% |
| 53 PONDS CIRCLE | 2026-02 | $625,000 | 2,521 | 38.1% |
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