The Fair Share Report
48 Wolfe Dr
Wanaque, NJ 07465
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 $642,914 – $717,464, from 12 comparable Wanaque 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 Wanaque assessments sit below market value — republished every October, applied town-wide. A $662,152 home should be assessed near $360,277.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $31,777 below what the ratio math suggests (8.8%).
Step 4 · The tax rate — same for every Wanaque home
$2.486 Schools · 55% $0.828 County · 18% $1.227 Town · 27%
This home's own bill implies $4.465 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Wanaque sale · assessed ÷ market
33%68%
Paying about right
This home's ratio lands inside Wanaque'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 |
|---|---|---|---|---|
| 3 LOVELL DRIVE | 2025-03 | $615,000 | 2,026 | 41.5% |
| 34 MOUNTAIN AVE | 2026-04 | $700,000 | 2,080 | 41.2% |
| 54 WILLOW WAY | 2025-10 | $620,000 | 2,012 | 42.2% |
| 67 TREMONT TERRACE | 2025-05 | $615,000 | 2,024 | 44.1% |
| 14 GARY PLACE | 2025-08 | $715,000 | 2,136 | 42.5% |
| 68 GRIST MILL ROAD | 2025-06 | $650,000 | 2,086 | 42.1% |
| 27 BORMAN DRIVE | 2026-05 | $730,000 | 2,026 | 42.5% |
| 39 WOLFE DRIVE | 2025-03 | $620,000 | 2,488 | 54.6% |
| 18 SCHIRRA DRIVE | 2026-03 | $632,000 | 2,001 | 43.6% |
| 13 LOVELL DRIVE | 2025-01 | $625,000 | 2,001 | 45.6% |
| 5 WOLFE DRIVE | 2025-11 | $490,000 | 2,081 | 54.0% |
| 48 WILLOW WAY | 2025-12 | $600,000 | 1,778 | 43.3% |
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