The Fair Share Report
37 Vale 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 $982,568 – $1,271,531, 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 $1,118,753 home should be assessed near $400,737.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $344,863 above what the ratio math suggests (86.1%).
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%81%
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 $20,685/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 1360 HAMBURG TPKE | 2026-06 | $620,000 | 3,955 | 33.9% |
| 297 TERHUNE DR | 2025-10 | $855,000 | 4,418 | 34.5% |
| 1360 HAMBURG TPKE | 2025-08 | $925,000 | 4,050 | 25.6% |
| 14 WEINMANNS BLVD | 2026-06 | $1,450,000 | 5,123 | 21.4% |
| 156 CHEYENNE WAY | 2026-06 | $1,500,000 | 4,400 | 31.7% |
| 40 IVY PLACE | 2025-01 | $939,900 | 3,518 | 46.8% |
| 1377 ROUTE 23 | 2025-01 | $4,950,000 | 3,516 | 36.3% |
| 31 IOWA RD | 2025-04 | $1,100,000 | 3,640 | 28.6% |
| 17 SHADOW RIDGE RD | 2025-06 | $1,500,000 | 4,074 | 28.5% |
| 106 PANCAKE HOLLOW DR | 2025-10 | $1,130,000 | 3,612 | 38.8% |
| 16 VIZCAYA COURT | 2025-09 | $1,125,000 | 3,962 | 40.7% |
| 24 APACHE RD | 2025-01 | $1,200,000 | 4,010 | 27.8% |
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