The Fair Share Report
385 Riverside Dr
Wayne, NJ 07470
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
Good news — this home pays less than its share
Its assessment sits low relative to what homes like it actually sell for. An appeal would only invite a fresh look at a number working in the owner's favor.
Step 1 · Market value
Likely range $415,981 – $641,993, 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 $560,881 home should be assessed near $200,908.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $128,108 below what the ratio math suggests (63.8%).
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
6%47%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 129 TERHUNE DR | 2025-05 | $425,000 | 1,240 | 34.9% |
| 30 SUNSET TERR | 2025-08 | $350,000 | 1,106 | 54.8% |
| 111 WEINMANNS BLVD | 2025-08 | $550,000 | 1,102 | 33.0% |
| 53 LAUREL DR | 2025-02 | $565,000 | 1,230 | 26.9% |
| 28 NEW ST | 2025-05 | $600,000 | 1,120 | 20.9% |
| 24 LAKE TRAIL E | 2025-06 | $625,000 | 1,286 | 23.9% |
| 26 GRAHAM AVE | 2025-07 | $625,000 | 1,084 | 27.1% |
| 104 LIONSHEAD DR E | 2025-07 | $649,910 | 1,126 | 26.2% |
| 10 LAKE TRAIL E | 2026-06 | $550,000 | 1,116 | 25.4% |
| 10 LAKE DR W | 2026-06 | $800,000 | 1,445 | 31.0% |
| 55 VALLEY VIEW TERR | 2025-09 | $702,000 | 1,238 | 27.9% |
| 33 SOUTH RD | 2025-05 | $400,000 | 1,012 | 27.8% |
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