The Fair Share Report
46 Cedar Pl
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.
This home's full record →Check another house →
Step 1 · Market value
Likely range $777,194 – $1,017,955, from 12 comparable Wayne 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 Wayne assessments sit below market value — republished every October, applied town-wide. A $984,738 home should be assessed near $352,733.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $55,433 below what the ratio math suggests (15.7%).
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%47%
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 |
|---|---|---|---|---|
| 32 SEARS PLACE | 2025-05 | $840,000 | 2,582 | 31.6% |
| 69 NORMANDY DR | 2025-12 | $710,000 | 2,606 | 35.0% |
| 987 VALLEY RD | 2025-06 | $993,987 | 2,598 | 31.8% |
| 8 YORKTOWN RD | 2025-05 | $950,000 | 2,516 | 27.6% |
| 18 SOUTH RD | 2026-05 | $650,000 | 2,275 | 26.1% |
| 14 LOUISA CT | 2026-04 | $999,000 | 2,637 | 30.0% |
| 595 HAMBURG TPKE | 2025-01 | $981,000 | 3,118 | 28.4% |
| 60 TOMS LAKE RD | 2025-09 | $850,000 | 2,632 | 28.9% |
| 789 BLACK OAK RIDGE RD | 2024-12 | $660,000 | 2,322 | 28.6% |
| 27 BRISTOL PLACE | 2025-07 | $990,000 | 2,609 | 29.4% |
| 23 ERLI ST | 2026-06 | $1,500,000 | 2,627 | 21.4% |
| 70 VERKADE DR | 2025-06 | $1,200,000 | 2,693 | 27.3% |
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