The Fair Share Report
403 Parish Dr
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 $864,019 – $1,266,072, from 12 comparable Wayne sales in the past 18 months, at this home's 3,783 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 $1,132,070 home should be assessed near $405,507.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $23,507 below what the ratio math suggests (5.8%).
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
19%50%
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 |
|---|---|---|---|---|
| 106 PANCAKE HOLLOW DR | 2025-10 | $1,130,000 | 3,612 | 38.8% |
| 297 TERHUNE DR | 2025-10 | $855,000 | 4,418 | 34.5% |
| 986 PINES LAKE DR W | 2025-09 | $1,600,000 | 3,862 | 35.8% |
| 10 BEVERLY WAY | 2025-10 | $680,000 | 3,693 | 31.8% |
| 187 HILLCREST DR | 2026-01 | $1,200,000 | 3,159 | 32.3% |
| 40 IVY PLACE | 2025-01 | $939,900 | 3,518 | 46.8% |
| 1360 HAMBURG TPKE | 2026-06 | $620,000 | 3,955 | 33.9% |
| 17 SHADOW RIDGE RD | 2025-06 | $1,500,000 | 4,074 | 28.5% |
| 16 VIZCAYA COURT | 2025-09 | $1,125,000 | 3,962 | 40.7% |
| 24 APACHE RD | 2025-01 | $1,200,000 | 4,010 | 27.8% |
| 595 HAMBURG TPKE | 2025-01 | $981,000 | 3,118 | 28.4% |
| 153 CHOPIN DR | 2025-04 | $999,000 | 3,321 | 38.6% |
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