The Fair Share Report
62 Chestnut Dr
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 $448,772 – $721,385, 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 $633,950 home should be assessed near $227,081.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $33,181 below what the ratio math suggests (14.6%).
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 $5.869 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
19%49%
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 |
|---|---|---|---|---|
| 197 OAKWOOD DR | 2025-08 | $710,000 | 1,652 | 30.2% |
| 40 PROSPECT RD | 2025-10 | $620,000 | 1,600 | 25.6% |
| 278 FRENCH HILL RD | 2026-05 | $715,000 | 1,699 | 26.4% |
| 18 CHAPEL PLACE | 2025-10 | $590,000 | 1,650 | 28.2% |
| 27 GRANDVIEW DR | 2025-10 | $566,000 | 1,764 | 38.9% |
| 44 CEDAR PLACE | 2025-04 | $728,000 | 1,664 | 29.1% |
| 77 CHESTNUT DR | 2025-12 | $466,000 | 1,614 | 43.1% |
| 38 WOODLOT RD | 2026-01 | $685,000 | 1,550 | 21.5% |
| 10 ORCHARD PLACE | 2026-05 | $350,000 | 1,731 | 46.4% |
| 202 NEWARK POMPTON TPKE | 2025-12 | $470,000 | 1,616 | 34.7% |
| 71 LAKE TRAIL E | 2025-12 | $745,000 | 1,740 | 27.1% |
| 39 PACKANACK LK RD | 2025-04 | $650,000 | 1,564 | 28.8% |
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