The Fair Share Report
47 Gates 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 $700,973 – $1,164,046, 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 $946,454 home should be assessed near $339,020.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $18,280 above what the ratio math suggests (5.4%).
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%56%
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 |
|---|---|---|---|---|
| 50 ATHERTON CT | 2025-01 | $1,050,000 | 2,995 | 33.6% |
| 801 FOUR SEASONS DR | 2025-12 | $530,000 | — | 31.2% |
| 33 GATES PLACE | 2025-10 | $1,135,000 | 3,045 | 34.2% |
| 153 CHOPIN DR | 2025-04 | $999,000 | 3,321 | 38.6% |
| 1360 HAMBURG TPKE | 2025-07 | $520,000 | 2,755 | 31.3% |
| 1360 HAMBURG TPKE | 2026-03 | $685,000 | 2,748 | 25.2% |
| 106 PANCAKE HOLLOW DR | 2025-10 | $1,130,000 | 3,612 | 38.8% |
| 13 STONE HILL RD | 2025-11 | $1,300,000 | 3,322 | 28.0% |
| 6 DIANE CT | 2026-06 | $1,170,000 | 2,924 | 28.8% |
| 4 BITOLA DR | 2025-06 | $972,000 | 3,082 | 34.5% |
| 89 PANCAKE HOLLOW DR | 2025-10 | $1,250,000 | 3,385 | 29.3% |
| 1360 HAMBURG TPKE | 2025-05 | $440,000 | 2,600 | 35.6% |
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