The Fair Share Report
40 Storms 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 $547,958 – $658,285, 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 $615,865 home should be assessed near $335,092.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $75,592 below what the ratio math suggests (22.6%).
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%
Paying about right
This home's ratio lands inside Wanaque'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 |
|---|---|---|---|---|
| 48 WILLOW WAY | 2025-12 | $600,000 | 1,778 | 43.3% |
| 87 ALDRIN DRIVE | 2025-03 | $625,000 | 1,660 | 38.5% |
| 54 WILLOW WAY | 2025-10 | $620,000 | 2,012 | 42.2% |
| 34 MOUNTAIN AVE | 2026-04 | $700,000 | 2,080 | 41.2% |
| 15 FIRST AVE | 2026-06 | $290,000 | 1,829 | 86.8% |
| 3 LOVELL DRIVE | 2025-03 | $615,000 | 2,026 | 41.5% |
| 7 LOVELL DRIVE | 2025-12 | $515,000 | 1,746 | 47.2% |
| 190 MEADOWBROOK AVE | 2026-01 | $622,000 | 1,802 | 45.8% |
| 108 MIDVALE AVE | 2025-05 | $580,000 | 1,624 | 40.8% |
| 67 TREMONT TERRACE | 2025-05 | $615,000 | 2,024 | 44.1% |
| 9 RHONDA PLACE | 2025-02 | $535,000 | 1,607 | 48.6% |
| 34 ST GEORGE PLACE | 2025-05 | $465,000 | 1,769 | 50.4% |
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