The Fair Share Report
46 Beverly 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 $1,514,826 – $2,062,324, 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 $1,695,147 home should be assessed near $522,275.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $89,475 below what the ratio math suggests (17.1%).
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 |
|---|---|---|---|---|
| 49 OAKLAND PL | 2025-12 | $1,852,000 | 2,691 | 30.1% |
| 226 MOUNTAIN AVE | 2026-06 | $1,680,000 | 2,618 | 22.4% |
| 24 RUSSELL PL | 2025-02 | $1,549,000 | 2,636 | 33.0% |
| 164 KENT PLACE BLVD | 2025-01 | $1,699,000 | 2,646 | 21.8% |
| 154 WOODLAND AVE | 2026-03 | $1,616,000 | 2,444 | 28.2% |
| 13 HUNTLEY RD | 2025-03 | $1,390,000 | 2,850 | 27.3% |
| 10 GARDEN RD | 2025-03 | $1,561,000 | 2,442 | 22.6% |
| 15 CREST ACRE CT | 2026-04 | $1,499,000 | 2,567 | 51.5% |
| 35 BLACKBURN PL | 2025-05 | $2,000,000 | 2,656 | 22.6% |
| 4 BEEKMAN RD | 2026-05 | $2,000,000 | 2,242 | 22.9% |
| 11 LAFAYETTE AVE | 2025-07 | $1,260,000 | 2,667 | 20.8% |
| 12 BEEKMAN RD | 2025-07 | $2,405,000 | 2,445 | 23.3% |
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