The Fair Share Report
38 Gates Pl
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 $1,027,691 – $1,474,595, from 12 comparable Wayne sales in the past 18 months, at this home's 4,005 sq ft.
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 $1,198,504 home should be assessed near $429,304.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $81,196 above what the ratio math suggests (18.9%).
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%55%
A touch high — worth watching
This home's ratio sits above most of Wayne, but doesn't clear NJ's legal appeal line (41.19%).
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 1360 HAMBURG TPKE | 2025-08 | $925,000 | 4,050 | 25.6% |
| 1360 HAMBURG TPKE | 2026-06 | $620,000 | 3,955 | 33.9% |
| 16 SHADOW RIDGE RD | 2025-11 | $1,350,000 | 3,968 | 32.5% |
| 535 COLFAX RD | 2025-01 | $1,030,000 | 4,014 | 34.3% |
| 63 WESTVIEW RD | 2025-11 | $1,620,000 | 4,232 | 30.4% |
| 16 VIZCAYA COURT | 2025-09 | $1,125,000 | 3,962 | 40.7% |
| 17 SHADOW RIDGE RD | 2025-06 | $1,500,000 | 4,074 | 28.5% |
| 67 WESTVIEW RD | 2025-12 | $915,000 | 3,476 | 41.0% |
| 31 BOURBON ST | 2025-07 | $1,400,000 | 3,998 | 29.2% |
| 24 APACHE RD | 2025-01 | $1,200,000 | 4,010 | 27.8% |
| 89 PANCAKE HOLLOW DR | 2025-10 | $1,250,000 | 3,385 | 29.3% |
| 12 JENNY LANE | 2025-09 | $1,299,900 | 4,394 | 29.8% |
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