The Fair Share Report
45 Rowan 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 $1,480,486 – $2,059,684, 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 $1,789,621 home should be assessed near $551,382.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $44,282 below what the ratio math suggests (8.0%).
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
16%41%
Paying about right
This home's ratio lands inside Summit'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 |
|---|---|---|---|---|
| 154 WOODLAND AVE | 2026-03 | $1,616,000 | 2,444 | 28.2% |
| 12 BEEKMAN RD | 2025-07 | $2,405,000 | 2,445 | 23.3% |
| 164 KENT PLACE BLVD | 2025-01 | $1,699,000 | 2,646 | 21.8% |
| 1 LORRAINE RD | 2025-04 | $2,175,000 | 2,491 | 22.3% |
| 88 BEEKMAN RD | 2026-03 | $1,999,999 | 2,408 | 21.6% |
| 148 DIVISION AVE | 2025-03 | $1,412,000 | 2,347 | 28.3% |
| 34 OAKLEY AVE | 2025-06 | $1,800,000 | 2,428 | 25.9% |
| 226 MOUNTAIN AVE | 2026-06 | $1,680,000 | 2,618 | 22.4% |
| 109 MOUNTAIN AVE | 2025-12 | $1,825,000 | 2,429 | 20.3% |
| 4 BEEKMAN RD | 2026-05 | $2,000,000 | 2,242 | 22.9% |
| 22 BEDFORD RD | 2025-12 | $1,750,000 | 2,320 | 22.2% |
| 110 DIVISION AVE | 2025-10 | $1,319,000 | 2,504 | 25.2% |
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