The Fair Share Report
606 Springfield Ave
Summit, NJ 07901
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 $1,634,892 – $2,290,109, from 12 comparable Summit 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 Summit assessments sit below market value — republished every October, applied town-wide. A $2,202,988 home should be assessed near $678,741.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $195,841 below what the ratio math suggests (28.9%).
Step 4 · The tax rate — same for every Summit home
$2.335 Schools · 52% $1.092 County · 24% $1.043 Town · 23%
This home's own bill implies $4.328 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Summit also levies a Special Improvement District charge inside its district boundaries — the county roll doesn't say which homes are in it, but a bill's "IMPROVEMENT DISTRICT" line does. District homes pay $4.654 per $100 all-in (+$0.184).
Step 5 · The bill
This home vs. every recent Summit sale · assessed ÷ market
16%41%
Paying about right
This home's ratio lands inside Summit'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 |
|---|---|---|---|---|
| 15 CREST ACRE CT | 2026-04 | $1,499,000 | 2,567 | 51.5% |
| 63 WHITTREDGE RD | 2025-10 | $2,795,000 | 2,576 | 31.6% |
| 242 KENT PL BLVD | 2025-05 | $2,055,000 | 3,200 | 24.4% |
| 115 MAPLE ST | 2025-10 | $2,550,000 | 3,093 | 23.8% |
| 50 BELLEVUE AVE | 2025-12 | $2,000,000 | 2,422 | 24.3% |
| 62 BEEKMAN RD | 2025-11 | $1,850,000 | 2,562 | 26.5% |
| 139 WOODLAND AVE | 2025-06 | $2,700,000 | 3,303 | 26.7% |
| 72 COLT RD | 2025-02 | $2,250,000 | 2,807 | 36.5% |
| 8 DUNNDER DR | 2026-04 | $2,325,000 | 2,788 | 20.4% |
| 27 BEEKMAN RD | 2025-11 | $2,295,000 | 3,219 | 26.5% |
| 69 ELM ST | 2026-06 | $2,300,000 | 2,845 | 20.6% |
| 15 HAWTHORNE PL | 2025-07 | $2,400,000 | 2,276 | 24.3% |
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