The Fair Share Report
35 Ridge 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 $1,128,302 – $1,915,212, 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 $1,396,731 home should be assessed near $430,333.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $174,467 above what the ratio math suggests (40.5%).
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%59%
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 |
|---|---|---|---|---|
| 28 MOUNTAIN AVE | 2025-07 | $1,300,000 | 2,468 | 22.2% |
| 147 CANOE BROOK PKWY | 2025-11 | $1,700,000 | 2,021 | 21.5% |
| 25 CLARK ST | 2025-08 | $1,250,000 | 1,914 | 15.4% |
| 15 HAWTHORNE PL | 2025-07 | $2,400,000 | 2,276 | 24.3% |
| 50 BELLEVUE AVE | 2025-12 | $2,000,000 | 2,422 | 24.3% |
| 9 HAWTHORNE PL | 2025-09 | $1,350,000 | 2,080 | 34.8% |
| 15 CREST ACRE CT | 2026-04 | $1,499,000 | 2,567 | 51.5% |
| 571 SPRINGFIELD AVE #1A | 2025-09 | $1,312,500 | 2,320 | 31.6% |
| 50 NEW ENGLAND AV-UNIT 1H | 2025-09 | $1,275,000 | 2,320 | 32.7% |
| 63 WHITTREDGE RD | 2025-10 | $2,795,000 | 2,576 | 31.6% |
| 709 SPRINGFIELD AVE UNIT1 | 2026-04 | $1,300,000 | 2,230 | 30.1% |
| 22 BEDFORD RD | 2025-12 | $1,750,000 | 2,320 | 22.2% |
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