The Fair Share Report
50 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 $2,300,330 – $2,651,771, from 12 comparable Summit sales in the past 18 months, at this home's 3,244 sq ft.
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 $2,566,149 home should be assessed near $790,631.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $266,431 below what the ratio math suggests (33.7%).
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
14%41%
Keep quiet and enjoy it
This home's assessment ratio sits below the Summit pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 284 KENT PLACE BLVD | 2025-06 | $2,000,000 | 3,070 | 24.8% |
| 27 BEEKMAN RD | 2025-11 | $2,295,000 | 3,219 | 26.5% |
| 139 WOODLAND AVE | 2025-06 | $2,700,000 | 3,303 | 26.7% |
| 84 PINE GROVE AVE | 2026-06 | $2,250,000 | 3,230 | 26.0% |
| 11 BRANTWOOD DR | 2026-05 | $2,935,000 | 3,312 | 25.1% |
| 11 BRANTWOOD DR | 2025-05 | $2,575,000 | 3,312 | 28.7% |
| 25 DOGWOOD DR | 2026-06 | $2,999,000 | 3,053 | 19.8% |
| 72 COLT RD | 2025-02 | $2,250,000 | 2,807 | 36.5% |
| 8 DUNNDER DR | 2026-04 | $2,325,000 | 2,788 | 20.4% |
| 96 PORTLAND RD | 2025-06 | $2,619,000 | 3,216 | 25.1% |
| 18 PINE RIDGE DR | 2026-06 | $2,325,000 | 3,178 | 23.3% |
| 10 WESTMINSTER RD | 2026-05 | $2,650,000 | 3,350 | 24.3% |
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