The Fair Share Report
32 Stephens Ave
Wanaque, NJ 08087
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 $416,861 – $543,285, from 12 comparable Wanaque 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 Wanaque assessments sit below market value — republished every October, applied town-wide. A $431,640 home should be assessed near $234,855.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $39,745 above what the ratio math suggests (16.9%).
Step 4 · The tax rate — same for every Wanaque home
$2.486 Schools · 55% $0.828 County · 18% $1.227 Town · 27%
Step 5 · The bill
This home vs. every recent Wanaque sale · assessed ÷ market
33%71%
Paying about right
This home's ratio lands inside Wanaque'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 |
|---|---|---|---|---|
| 48 WILLOW WAY | 2025-12 | $600,000 | 1,778 | 43.3% |
| 36 WILLOW WAY | 2026-02 | $630,000 | 1,438 | 40.8% |
| 59 CARTER ROAD | 2026-06 | $520,000 | 1,625 | 42.7% |
| 8406 WARREN'S WAY | 2025-10 | $469,000 | 1,768 | 49.7% |
| 11 CARTER ROAD | 2025-01 | $420,000 | 1,482 | 52.5% |
| 5205 WARREN'S WAY | 2026-06 | $459,000 | 1,768 | 58.8% |
| 10123 WARREN'S WAY | 2026-06 | $395,000 | 1,768 | 64.7% |
| 5408 WARREN'S WAY | 2026-04 | $446,000 | 1,768 | 60.5% |
| 7414 WARREN'S WAY | 2026-04 | $450,000 | 1,768 | 53.8% |
| 9312 WARREN'S WAY | 2026-01 | $430,000 | 1,768 | 60.6% |
| 10203 WARREN'S WAY | 2026-01 | $439,900 | 1,768 | 54.8% |
| 5121 WARREN'S WAY | 2025-12 | $460,000 | 1,768 | 58.1% |
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