The Fair Share Report
48 Westervelt St
Wayne, NJ 07470
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
This home's payments are about right
It sits inside Wayne's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $475,099 – $616,627, from 12 comparable Wayne sales in the past 18 months, at this home's 1,202 sq ft.
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 $566,981 home should be assessed near $203,093.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $64,093 below what the ratio math suggests (31.6%).
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
17%47%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 10 LAKE TRAIL E | 2026-06 | $550,000 | 1,116 | 25.4% |
| 78 MAPLE LANE | 2026-05 | $650,000 | 1,378 | 35.3% |
| 53 LAUREL DR | 2025-02 | $565,000 | 1,230 | 26.9% |
| 104 OLDHAM RD | 2025-08 | $530,000 | 1,373 | 26.0% |
| 177 CHESTNUT DR | 2026-04 | $722,000 | 1,234 | 24.2% |
| 28 NEW ST | 2025-05 | $600,000 | 1,120 | 20.9% |
| 153 RYERSON AVE | 2025-06 | $475,000 | 1,404 | 27.5% |
| 35 LENAPE TRAIL | 2025-06 | $560,000 | 1,287 | 27.8% |
| 33 SOUTH RD | 2025-05 | $400,000 | 1,012 | 27.8% |
| 20 FERN RIVER AVE | 2025-04 | $425,000 | 1,320 | 24.1% |
| 24 LAKE TRAIL E | 2025-06 | $625,000 | 1,286 | 23.9% |
| 146 BEECHWOOD DR | 2025-08 | $730,000 | 1,423 | 28.0% |
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