The Fair Share Report
3 Rowan Rd
Summit, NJ 07901
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 $1,726,131 – $2,539,953, from 12 comparable Summit 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 Summit assessments sit below market value — republished every October, applied town-wide. A $2,084,839 home should be assessed near $642,339.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $132,661 above what the ratio math suggests (20.7%).
Step 4 · The tax rate — same for every Summit home
$2.335 Schools · 52% $1.092 County · 24% $1.043 Town · 23%
Summit also levies a Special Improvement District charge inside its district boundaries — the county roll doesn't say which homes are in it, but a bill's "IMPROVEMENT DISTRICT" line does. District homes pay $4.654 per $100 all-in (+$0.184).
Step 5 · The bill
This home vs. every recent Summit sale · assessed ÷ market
16%50%
A touch high — worth watching
This home's ratio sits above most of Summit, but doesn't clear NJ's legal appeal line (35.43%).
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 115 MAPLE ST | 2025-10 | $2,550,000 | 3,093 | 23.8% |
| 242 KENT PL BLVD | 2025-05 | $2,055,000 | 3,200 | 24.4% |
| 26 HAWTHORNE PL | 2025-04 | $2,200,000 | 3,133 | 29.6% |
| 12-14 GLENSIDE AVE | 2026-02 | $990,000 | 2,838 | 26.2% |
| 28 MOUNTAIN AVE | 2025-07 | $1,300,000 | 2,468 | 22.2% |
| 72 COLT RD | 2025-02 | $2,250,000 | 2,807 | 36.5% |
| 25 WALNUT ST | 2025-10 | $620,000 | 2,960 | 39.8% |
| 63 WHITTREDGE RD | 2025-10 | $2,795,000 | 2,576 | 31.6% |
| 8 DUNNDER DR | 2026-04 | $2,325,000 | 2,788 | 20.4% |
| 10 WESTMINSTER RD | 2026-05 | $2,650,000 | 3,350 | 24.3% |
| 25 DOGWOOD DR | 2026-06 | $2,999,000 | 3,053 | 19.8% |
| 16 ROTARY DR | 2025-04 | $2,051,000 | 2,959 | 30.2% |
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