The Fair Share Report
40 Jerome Pl
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.
A touch high — but not appeal-worthy
Above most of Wayne, but below NJ's legal appeal line (41.19%), where a case becomes winnable.
Step 1 · Market value
Likely range $585,164 – $656,833, from 12 comparable Wayne sales in the past 18 months, at this home's 1,452 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 $624,852 home should be assessed near $223,822.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $2,878 above what the ratio math suggests (1.3%).
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%47%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 33 JEROME PLACE | 2025-07 | $550,000 | 1,442 | 32.1% |
| 230 MAC DONALD DR | 2025-06 | $300,000 | 1,450 | 62.6% |
| 62 ELMWOOD TERR | 2026-01 | $580,000 | 1,438 | 35.4% |
| 375 ALPS RD | 2025-03 | $610,000 | 1,420 | 29.8% |
| 75 BARNSDALE RD | 2025-09 | $553,250 | 1,505 | 24.7% |
| 154 CLAREMONT TERR | 2026-01 | $661,000 | 1,536 | 24.5% |
| 42 DEERFIELD RD | 2025-06 | $660,000 | 1,459 | 27.4% |
| 22 WOODLOT RD | 2026-04 | $711,111 | 1,320 | 20.6% |
| 15 JUDITH PLACE | 2025-04 | $718,000 | 1,302 | 24.6% |
| 21 DUBEL RD | 2025-10 | $690,000 | 1,579 | 25.1% |
| 38 WOODLOT RD | 2026-01 | $685,000 | 1,550 | 21.5% |
| 14 VALHALLA WAY | 2025-12 | $590,000 | 1,464 | 32.5% |
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