The Fair Share Report
29 Hanover Pl
Wayne, NJ 07470
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
This home's payments are about right
It sits inside Wayne's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $761,125 – $906,173, from 12 comparable Wayne sales in the past 18 months, at this home's 2,214 sq ft.
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 $859,488 home should be assessed near $307,869.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $95,469 below what the ratio math suggests (31.0%).
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
18%47%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 526 INDIAN RD | 2025-06 | $975,000 | 2,191 | 27.1% |
| 53 HERSHEY RD | 2025-07 | $852,500 | 2,196 | 36.8% |
| 12 HARMONY LANE | 2025-09 | $925,000 | 2,260 | 26.9% |
| 39 TERRACE RD | 2025-09 | $900,000 | 2,196 | 25.8% |
| 49 LAGUNA DR | 2026-06 | $840,000 | 2,245 | 23.4% |
| 41 TOWSEN RD | 2026-04 | $885,000 | 2,144 | 29.9% |
| 66 LEONARD TERR | 2026-01 | $757,000 | 2,202 | 30.0% |
| 63 ELERON PLACE | 2026-01 | $800,000 | 2,166 | 31.3% |
| KNOX TERRACE | 2025-09 | $15,000 | — | 24.7% |
| 19 MOUNTAIN RIDGE DR | 2025-08 | $885,000 | 2,319 | 29.2% |
| 100 WILSON AVE | 2026-01 | $742,500 | 2,160 | 31.7% |
| 121 BALDWIN TERR | 2025-07 | $935,000 | 2,288 | 27.5% |
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