The Fair Share Report
31 Lake Dr E
Wayne, NJ 07481
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 $675,819 – $769,381, 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 $738,094 home should be assessed near $264,385.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $10,815 above what the ratio math suggests (4.1%).
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%47%
A touch high — worth watching
This home's ratio sits above most of Wayne, but doesn't clear NJ's legal appeal line (41.19%).
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 174 HILLCREST DR | 2026-03 | $760,000 | 2,136 | 28.8% |
| 1 LENAPE TRAIL | 2026-02 | $625,000 | 1,855 | 30.8% |
| 26 GIANNONE RD | 2025-10 | $770,000 | 2,172 | 28.7% |
| 47 LAUREL DR | 2026-06 | $730,000 | 2,076 | 26.8% |
| 25 PACKANACK LK RD | 2025-04 | $600,000 | 1,934 | 36.8% |
| 5 FERNDALE RD | 2026-04 | $710,000 | 2,146 | 27.3% |
| 362 VALLEY RD | 2025-10 | $685,000 | 1,934 | 26.6% |
| 79 LIONSHEAD DR W | 2025-12 | $735,000 | 2,006 | 28.8% |
| 8 FOREST TERR | 2025-11 | $605,000 | 1,931 | 34.8% |
| 25 FERNDALE RD | 2025-09 | $785,000 | 1,894 | 23.7% |
| 53 HAMILTON AVE | 2025-04 | $775,000 | 1,830 | 25.7% |
| 185 OAKWOOD DR | 2025-05 | $630,000 | 1,768 | 32.7% |
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