The Fair Share Report
609 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 $1,640,234 – $2,427,020, from 12 comparable Summit sales in the past 18 months, at this home's 2,976 sq ft.
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 $2,089,754 home should be assessed near $643,853.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $261,953 below what the ratio math suggests (40.7%).
Step 4 · The tax rate — same for every Summit home
$2.335 Schools · 52% $1.092 County · 24% $1.043 Town · 23%
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
10%41%
Keep quiet and enjoy it
This home's assessment ratio sits below the Summit pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 26 HAWTHORNE PL | 2025-04 | $2,200,000 | 3,133 | 29.6% |
| 12-14 GLENSIDE AVE | 2026-02 | $990,000 | 2,838 | 26.2% |
| 25 WALNUT ST | 2025-10 | $620,000 | 2,960 | 39.8% |
| 115 MAPLE ST | 2025-10 | $2,550,000 | 3,093 | 23.8% |
| 69 ELM ST | 2026-06 | $2,300,000 | 2,845 | 20.6% |
| 28 MOUNTAIN AVE | 2025-07 | $1,300,000 | 2,468 | 22.2% |
| 25 LOCUST DR | 2025-08 | $1,525,000 | 2,738 | 27.8% |
| 49 NORWOOD AVE | 2026-05 | $2,500,000 | 2,876 | 21.3% |
| 33 CROMWELL PKWY | 2025-12 | $2,489,000 | 3,052 | 24.2% |
| 3 DRUM HILL DRIVE | 2025-02 | $1,600,000 | 2,903 | 27.9% |
| 6 JOANNA WAY | 2025-12 | $1,800,000 | 2,971 | 28.6% |
| 18 PINE RIDGE DR | 2026-06 | $2,325,000 | 3,178 | 23.3% |
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