The Fair Share Report
41 Glendale Rd
Summit, NJ 07901
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 $1,137,402 – $1,505,188, from 12 comparable Summit 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 Summit assessments sit below market value — republished every October, applied town-wide. A $1,221,417 home should be assessed near $376,319.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $163,681 above what the ratio math suggests (43.5%).
Step 4 · The tax rate — same for every Summit home
$2.335 Schools · 52% $1.092 County · 24% $1.043 Town · 23%
Summit also levies a Special Improvement District charge inside its district boundaries — the county roll doesn't say which homes are in it, but a bill's "IMPROVEMENT DISTRICT" line does. District homes pay $4.654 per $100 all-in (+$0.184).
Step 5 · The bill
This home vs. every recent Summit sale · assessed ÷ market
16%53%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (35.43%) — roughly $7,317/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 571 SPRINGFIELD AVE #1A | 2025-09 | $1,312,500 | 2,320 | 31.6% |
| 50 NEW ENGLAND AV-UNIT 1H | 2025-09 | $1,275,000 | 2,320 | 32.7% |
| 91 SPRINGFIELD AV.-1A | 2025-07 | $850,000 | 2,000 | 25.2% |
| 9 FAITOUTE COURT | 2025-07 | $1,330,000 | 2,030 | 21.9% |
| 9 STONY HILL CT | 2025-08 | $1,700,216 | 2,478 | 28.5% |
| 206 BLACKBURN RD | 2025-05 | $1,705,000 | 2,141 | 23.5% |
| 19 DALE DR | 2025-08 | $1,375,000 | 2,201 | 31.4% |
| 50 WEST END AVE | 2025-05 | $1,325,000 | 1,976 | 22.2% |
| 37 PLAIN STREET | 2026-01 | $1,715,555 | 2,279 | 21.6% |
| 91 CANOE BROOK PKWY | 2026-03 | $1,275,000 | 2,210 | 24.2% |
| 28 MORRIS AVE APT DD1 | 2026-03 | $825,000 | 1,676 | 28.4% |
| 28 MORRIS AVE APT N6 | 2025-08 | $740,000 | 1,676 | 31.0% |
Is this your house?
Run your own report →