The Fair Share Report
583 Colfax 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 $529,965 – $592,573, 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 $553,756 home should be assessed near $198,355.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $5,955 below what the ratio math suggests (3.0%).
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
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 |
|---|---|---|---|---|
| 474 NEWARK POMPTON TPKE | 2025-05 | $575,000 | 1,698 | 31.2% |
| 476 TERHUNE DR | 2025-11 | $620,000 | 1,656 | 28.6% |
| 516 FOUR SEASONS DR | 2026-04 | $585,000 | 1,599 | 28.3% |
| 416 FOUR SEASONS DR | 2026-02 | $570,000 | 1,599 | 29.0% |
| 705 FOUR SEASONS DR | 2026-01 | $559,000 | 1,599 | 29.6% |
| 1308 FOUR SEASONS DR | 2025-09 | $590,000 | 1,599 | 27.8% |
| 1101 FOUR SEASONS DR | 2025-08 | $540,000 | 1,599 | 30.6% |
| 1404 FOUR SEASONS DR | 2024-12 | $590,000 | 1,599 | 28.0% |
| 58 VAN DUYNE AVE | 2025-11 | $250,000 | 1,526 | 39.4% |
| 6 HANSEN PLACE | 2026-04 | $605,000 | 1,616 | 24.4% |
| 9 HANSEN PLACE | 2025-04 | $628,750 | 1,616 | 23.7% |
| 146 GARSIDE AVE | 2026-02 | $500,000 | 1,548 | 30.4% |
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