The Fair Share Report
47 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 $607,917 – $757,329, 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 $700,000 home should be assessed near $250,740.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $47,040 below what the ratio math suggests (18.8%).
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 |
|---|---|---|---|---|
| 110 CHESTNUT DR | 2025-08 | $750,000 | 1,715 | 33.1% |
| 8 THOMAS TERR | 2025-07 | $730,000 | 1,730 | 28.9% |
| KNOX TERRACE | 2025-09 | $15,000 | — | 24.7% |
| 185 OAKWOOD DR | 2025-05 | $630,000 | 1,768 | 32.7% |
| 59 MAGNOLIA PLACE | 2025-08 | $775,000 | 1,702 | 27.5% |
| 41 BRIARWOOD RD | 2025-06 | $665,000 | 1,672 | 26.8% |
| 19 FERNDALE RD | 2026-05 | $480,000 | 1,611 | 33.6% |
| 72 BAYWOOD TERR | 2025-06 | $670,000 | 1,590 | 26.1% |
| 53 HAMILTON AVE | 2025-04 | $775,000 | 1,830 | 25.7% |
| 10 HILLTOP TERR | 2025-10 | $725,000 | 1,847 | 31.8% |
| 25 FERNDALE RD | 2025-09 | $785,000 | 1,894 | 23.7% |
| 15 SUNRISE DR | 2025-02 | $710,000 | 1,815 | 35.8% |
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