The Fair Share Report
40 Smith Ave
Wanaque, NJ 07420
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 $469,159 – $513,386, from 12 comparable Wanaque 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 Wanaque assessments sit below market value — republished every October, applied town-wide. A $499,232 home should be assessed near $271,632.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $75,132 below what the ratio math suggests (27.7%).
Step 4 · The tax rate — same for every Wanaque home
$2.486 Schools · 55% $0.828 County · 18% $1.227 Town · 27%
Step 5 · The bill
This home vs. every recent Wanaque sale · assessed ÷ market
33%68%
Keep quiet and enjoy it
This home's assessment ratio sits below the Wanaque pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 8 PHELAN COURT | 2025-04 | $515,000 | 1,240 | 36.1% |
| 74 BURNSIDE PLACE | 2025-03 | $480,000 | 1,248 | 39.1% |
| 30 DECKER ROAD | 2026-04 | $575,000 | 1,256 | 40.2% |
| 90 BURNSIDE PLACE | 2025-11 | $550,000 | 1,336 | 38.2% |
| 6 ADAMS ST | 2025-01 | $450,000 | 1,126 | 43.7% |
| 107 MONROE ST | 2025-04 | $445,000 | 1,334 | 41.4% |
| 86 BURNSIDE PLACE | 2026-03 | $612,000 | 1,380 | 36.5% |
| 57 BURNSIDE PLACE | 2025-06 | $440,000 | 1,056 | 38.8% |
| 32 SMITH AVE | 2025-06 | $470,000 | 1,173 | 42.4% |
| 38 ROCKRIDGE ROAD | 2025-07 | $463,038 | 1,152 | 42.7% |
| 45 BERGEN AVE | 2025-11 | $475,000 | 1,056 | 41.8% |
| 45 BERGEN AVE | 2025-06 | $433,900 | 1,056 | 45.8% |
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