The Fair Share Report
31 Lake Trl E
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 $292,405 – $530,357, from 12 comparable Wayne sales in the past 18 months, at this home's 924 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 $379,867 home should be assessed near $136,068.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $15,432 above what the ratio math suggests (11.3%).
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%57%
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 |
|---|---|---|---|---|
| 575 BLACK OAK RIDGE RD | 2025-03 | $437,000 | 850 | 30.3% |
| 30 SUNSET TERR | 2025-08 | $350,000 | 1,106 | 54.8% |
| 32 COTTONWOOD RD | 2026-04 | $450,000 | 784 | 35.7% |
| 208 FAYETTE AVE | 2025-03 | $215,000 | 891 | 37.4% |
| 50-1B KNOX TERRACE | 2025-12 | $370,000 | 900 | 28.1% |
| 1148-2A VALLEY RD | 2025-08 | $355,000 | 900 | 29.3% |
| 25-1A HINCHMAN AVE | 2026-06 | $379,900 | 889 | 26.7% |
| 11 RAYS CT | 2025-04 | $615,000 | 1,004 | 24.6% |
| 526 NEWARK POMPTON TPKE | 2025-02 | $470,000 | 970 | 28.2% |
| 31 MICHAEL DR | 2026-06 | $695,000 | 1,014 | 28.9% |
| 26 GRAHAM AVE | 2025-07 | $625,000 | 1,084 | 27.1% |
| 17B ATHERTON CT | 2026-05 | $225,000 | 900 | 32.9% |
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