The Fair Share Report
51 Chestnut Dr
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 $593,589 – $820,994, 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 $704,222 home should be assessed near $252,252.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $29,252 below what the ratio math suggests (11.6%).
Step 4 · The tax rate — same for every Wayne home
$3.337 Schools · 56% $1.251 County · 21% $1.409 Town · 23%
This home's own bill implies $5.886 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Wayne sale · assessed ÷ market
19%47%
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 |
|---|---|---|---|---|
| 134 OAKWOOD DR | 2026-01 | $555,000 | 1,927 | 35.2% |
| 79 LIONSHEAD DR W | 2025-12 | $735,000 | 2,006 | 28.8% |
| 8 FOREST TERR | 2025-11 | $605,000 | 1,931 | 34.8% |
| 27 GRANDVIEW DR | 2025-10 | $566,000 | 1,764 | 38.9% |
| 362 VALLEY RD | 2025-10 | $685,000 | 1,934 | 26.6% |
| 176 BEECHWOOD DR | 2025-10 | $730,000 | 1,867 | 29.6% |
| 197 OAKWOOD DR | 2025-08 | $710,000 | 1,652 | 30.2% |
| 32 GRAHAM AVE | 2025-08 | $725,000 | 1,830 | 33.2% |
| 25 PACKANACK LK RD | 2025-04 | $600,000 | 1,934 | 36.8% |
| 25 FERNDALE RD | 2025-09 | $785,000 | 1,894 | 23.7% |
| 278 FRENCH HILL RD | 2026-05 | $715,000 | 1,699 | 26.4% |
| 53 HAMILTON AVE | 2025-04 | $775,000 | 1,830 | 25.7% |
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