The Fair Share Report
359 Valley Rd
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 $441,628 – $524,361, 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 $478,311 home should be assessed near $171,331.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $86,469 above what the ratio math suggests (50.5%).
Step 4 · The tax rate — same for every Wayne home
$3.337 Schools · 56% $1.251 County · 21% $1.409 Town · 23%
This home's own bill implies $5.901 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Wayne sale · assessed ÷ market
19%64%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (41.19%) — roughly $5,186/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| KNOX TERRACE | 2025-09 | $15,000 | — | 24.7% |
| 1147B VALLEY RD | 2025-01 | $345,000 | 1,080 | 30.4% |
| 703 BRITTANY DR | 2026-03 | $486,000 | 1,331 | 28.9% |
| 39 PARKSIDE COURT | 2025-03 | $475,000 | 1,291 | 37.9% |
| 281 NEWARK POMPTON TPKE | 2025-05 | $490,000 | 1,300 | 36.8% |
| 146 GARSIDE AVE | 2026-02 | $500,000 | 1,548 | 30.4% |
| 144 GARSIDE AVE | 2025-11 | $535,000 | 1,548 | 28.1% |
| 611 BRITTANY DR | 2025-10 | $460,000 | 1,451 | 31.4% |
| 511 BRITTANY DR | 2026-04 | $515,000 | 1,451 | 28.0% |
| 50-1B KNOX TERRACE | 2025-12 | $370,000 | 900 | 28.1% |
| 1148-2A VALLEY RD | 2025-08 | $355,000 | 900 | 29.3% |
| 34 PARKSIDE COURT | 2026-06 | $470,000 | 1,187 | 28.0% |
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