The Fair Share Report
51 Wheeler Rd
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 $1,424,597 – $1,854,642, from 12 comparable Wayne sales in the past 18 months, at this home's 4,865 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 $1,547,055 home should be assessed near $554,155.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $121,855 below what the ratio math suggests (22.0%).
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
18%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 |
|---|---|---|---|---|
| 801 FOUR SEASONS DR | 2025-12 | $530,000 | — | 31.2% |
| 3 LITTLE PLACE | 2025-07 | $1,245,000 | 4,797 | 30.1% |
| 180 PINES LAKE DR E | 2025-09 | $2,200,000 | 5,430 | 26.8% |
| 18 GATES PLACE | 2025-05 | $1,502,000 | 5,007 | 38.8% |
| 12 JENNY LANE | 2025-09 | $1,299,900 | 4,394 | 29.8% |
| 334 PINES LAKE DR E | 2025-08 | $1,975,000 | 4,664 | 31.0% |
| 54 WHEELER RD | 2025-01 | $1,251,000 | 3,934 | 31.1% |
| 4 FOREST HILL DR | 2025-12 | $1,132,000 | 3,974 | 34.0% |
| 31 BOURBON ST | 2025-07 | $1,400,000 | 3,998 | 29.2% |
| 17 FARMSTEAD LANE | 2025-07 | $1,460,000 | 3,996 | 29.9% |
| 111 CHOPIN DR | 2026-05 | $1,400,000 | 4,781 | 33.9% |
| 1118 PINES LAKE DR W | 2025-10 | $2,430,000 | 5,041 | 33.3% |
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