The Fair Share Report
591 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 $530,710 – $745,877, 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 $706,036 home should be assessed near $252,902.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $91,102 below what the ratio math suggests (36.0%).
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 $5.843 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
16%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 |
|---|---|---|---|---|
| 88 HINCHMAN AVE | 2026-03 | $725,000 | 1,520 | 23.6% |
| 50 NORMANDY DR | 2025-04 | $826,000 | 1,611 | 25.9% |
| KNOX TERRACE | 2025-09 | $15,000 | — | 24.7% |
| 42 CECILIA DR | 2025-08 | $690,000 | 1,506 | 32.2% |
| 752 RATZER RD | 2025-08 | $750,000 | 1,567 | 28.1% |
| 26 BRANDYWINE RD | 2025-07 | $750,000 | 1,430 | 15.3% |
| 95 MAC DONALD DR | 2025-09 | $700,000 | 1,512 | 29.4% |
| 16 DALEWOOD RD | 2025-10 | $585,000 | 1,589 | 29.4% |
| 146 GARSIDE AVE | 2026-02 | $500,000 | 1,548 | 30.4% |
| 144 GARSIDE AVE | 2025-11 | $535,000 | 1,548 | 28.1% |
| 651 ALPS RD | 2025-06 | $592,000 | 1,514 | 30.6% |
| 78 VAN DUYNE AVE | 2025-12 | $582,000 | 1,685 | 29.0% |
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