The Fair Share Report
540 Fairfield Rd
Wayne, NJ 07006
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.
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Step 1 · Market value
Likely range $970,348 – $1,623,697, 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 $1,348,105 home should be assessed near $482,891.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $8,391 below what the ratio math suggests (1.7%).
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
19%54%
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 |
|---|---|---|---|---|
| 14 WEINMANNS BLVD | 2026-06 | $1,450,000 | 5,123 | 21.4% |
| 297 TERHUNE DR | 2025-10 | $855,000 | 4,418 | 34.5% |
| 156 CHEYENNE WAY | 2026-06 | $1,500,000 | 4,400 | 31.7% |
| 1377 ROUTE 23 | 2025-01 | $4,950,000 | 3,516 | 36.3% |
| 31 IOWA RD | 2025-04 | $1,100,000 | 3,640 | 28.6% |
| 23 HORIZON DR | 2025-06 | $1,580,000 | 4,733 | 39.1% |
| 148 NEWARK POMPTON TPKE | 2025-03 | $1,100,000 | 5,276 | 34.1% |
| 1360 HAMBURG TPKE | 2025-08 | $925,000 | 4,050 | 25.6% |
| 43 HORIZON DR | 2025-05 | $1,420,000 | 4,839 | 34.8% |
| 32 APACHE RD | 2025-05 | $1,200,000 | 4,396 | 40.9% |
| 1360 HAMBURG TPKE | 2026-06 | $620,000 | 3,955 | 33.9% |
| 111 CHOPIN DR | 2026-05 | $1,400,000 | 4,781 | 33.9% |
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