The Fair Share Report
49 Rowan Rd
Summit, NJ 07901
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 $1,362,364 – $1,968,287, from 12 comparable Summit 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 Summit assessments sit below market value — republished every October, applied town-wide. A $1,755,967 home should be assessed near $541,013.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $29,213 below what the ratio math suggests (5.4%).
Step 4 · The tax rate — same for every Summit home
$2.335 Schools · 52% $1.092 County · 24% $1.043 Town · 23%
Summit also levies a Special Improvement District charge inside its district boundaries — the county roll doesn't say which homes are in it, but a bill's "IMPROVEMENT DISTRICT" line does. District homes pay $4.654 per $100 all-in (+$0.184).
Step 5 · The bill
This home vs. every recent Summit sale · assessed ÷ market
16%43%
Paying about right
This home's ratio lands inside Summit'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 |
|---|---|---|---|---|
| 91 CANOE BROOK PKWY | 2026-03 | $1,275,000 | 2,210 | 24.2% |
| 22 BEDFORD RD | 2025-12 | $1,750,000 | 2,320 | 22.2% |
| 11 HICKORY RD | 2025-09 | $1,765,000 | 2,144 | 21.5% |
| 4 BEEKMAN RD | 2026-05 | $2,000,000 | 2,242 | 22.9% |
| 19 DALE DR | 2025-08 | $1,375,000 | 2,201 | 31.4% |
| 1 LORRAINE RD | 2025-04 | $2,175,000 | 2,491 | 22.3% |
| 147 CANOE BROOK PKWY | 2025-11 | $1,700,000 | 2,021 | 21.5% |
| 148 DIVISION AVE | 2025-03 | $1,412,000 | 2,347 | 28.3% |
| 12 BEEKMAN RD | 2025-07 | $2,405,000 | 2,445 | 23.3% |
| 34 SWEETBRIAR RD | 2025-11 | $1,999,999 | 2,327 | 23.8% |
| 154 WOODLAND AVE | 2026-03 | $1,616,000 | 2,444 | 28.2% |
| 15 HAWTHORNE PL | 2025-07 | $2,400,000 | 2,276 | 24.3% |
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