The Fair Share Report
40 Newark Ave
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.
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Step 1 · Market value
Likely range $637,885 – $813,289, from 12 comparable Wayne sales in the past 18 months, at this home's 1,836 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 $720,942 home should be assessed near $258,241.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $74,741 below what the ratio math suggests (28.9%).
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
17%47%
Paying about right
This home's ratio lands inside Wayne's normal band. The drift hasn't singled it out — no case for a tax appeal.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 34 CHOPIN DR | 2025-10 | $921,500 | 1,800 | 25.6% |
| 176 LAAUWE AVE | 2025-05 | $690,000 | 1,986 | 32.8% |
| 24 CASTLES DR | 2025-05 | $825,000 | 1,870 | 32.9% |
| 635 ALPS RD | 2025-08 | $750,000 | 1,910 | 29.0% |
| 951 BERDAN AVE | 2026-02 | $732,500 | 2,190 | 33.9% |
| 142 GARSIDE AVE | 2025-07 | $529,000 | 1,692 | 30.0% |
| 17 KING COURT | 2025-07 | $650,000 | 1,740 | 35.2% |
| 104 LIONSHEAD DR W | 2026-06 | $865,000 | 1,872 | 23.0% |
| 18 CHANDLER DR | 2025-05 | $687,000 | 1,856 | 38.1% |
| 88 HINCHMAN AVE | 2026-03 | $725,000 | 1,520 | 23.6% |
| 8028 BRITTANY DR | 2025-04 | $527,500 | 1,804 | 36.6% |
| 8307 BRITTANY DR | 2025-02 | $555,000 | 1,804 | 32.2% |
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