The Fair Share Report
42 Willow 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 $1,199,458 – $1,618,529, 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 $1,337,071 home should be assessed near $411,952.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $156,452 below what the ratio math suggests (38.0%).
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
10%41%
Keep quiet and enjoy it
This home's assessment ratio sits below the Summit 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 |
|---|---|---|---|---|
| 147 CANOE BROOK PKWY | 2025-11 | $1,700,000 | 2,021 | 21.5% |
| 25 CLARK ST | 2025-08 | $1,250,000 | 1,914 | 15.4% |
| 14 CHAPEL ST | 2025-06 | $1,150,000 | 1,885 | 20.8% |
| 176 WOODLAND AVE | 2026-03 | $1,400,000 | 1,980 | 21.3% |
| 15 HAWTHORNE PL | 2025-07 | $2,400,000 | 2,276 | 24.3% |
| 50 BELLEVUE AVE | 2025-12 | $2,000,000 | 2,422 | 24.3% |
| 22 BEDFORD RD | 2025-12 | $1,750,000 | 2,320 | 22.2% |
| 275 WOODLAND AVE | 2026-06 | $1,655,000 | 2,098 | 22.7% |
| 50 WEST END AVE | 2025-05 | $1,325,000 | 1,976 | 22.2% |
| 9 HAWTHORNE PL | 2025-09 | $1,350,000 | 2,080 | 34.8% |
| 11 MT VERNON AVE | 2026-03 | $1,300,000 | 1,862 | 22.0% |
| 63 WHITTREDGE RD | 2025-10 | $2,795,000 | 2,576 | 31.6% |
Is this your house?
Run your own report →