The Fair Share Report
31 Park Ave
Summit, NJ 07928
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 $1,016,140 – $1,524,736, 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 $1,207,143 home should be assessed near $371,921.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $192,621 below what the ratio math suggests (51.8%).
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
6%41%
Keep quiet and enjoy it
This home's assessment ratio sits below the Summit pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 80 GLENSIDE AVE | 2025-06 | $680,000 | 1,680 | 28.4% |
| 14 CHAPEL ST | 2025-06 | $1,150,000 | 1,885 | 20.8% |
| 25 CLARK ST | 2025-08 | $1,250,000 | 1,914 | 15.4% |
| 9 HAWTHORNE PL | 2025-09 | $1,350,000 | 2,080 | 34.8% |
| 71 BROAD ST | 2025-10 | $821,000 | 1,849 | 21.2% |
| 170 CANOE BROOK PKWY | 2026-03 | $1,500,000 | 1,739 | 23.6% |
| 51 TULIP ST | 2025-07 | $1,460,000 | 1,648 | 23.6% |
| 276 KENT PLACE BLVD | 2026-04 | $1,306,000 | 1,774 | 18.1% |
| 42 PARKVIEW TERR | 2025-05 | $1,650,000 | 1,722 | 24.4% |
| 41 ASHLAND RD | 2025-05 | $1,250,088 | 1,480 | 23.1% |
| 8 LAFAYETTE AVE | 2025-08 | $890,000 | 1,830 | 24.0% |
| 147 CANOE BROOK PKWY | 2025-11 | $1,700,000 | 2,021 | 21.5% |
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