The Fair Share Report
65 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 $670,190 – $834,848, 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 $720,750 home should be assessed near $258,173.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $43,973 below what the ratio math suggests (17.0%).
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 |
|---|---|---|---|---|
| 192 MOHAWK TRAIL | 2025-01 | $470,000 | 1,820 | 38.7% |
| KNOX TERRACE | 2025-09 | $15,000 | — | 24.7% |
| 1 LENAPE TRAIL | 2026-02 | $625,000 | 1,855 | 30.8% |
| 153 CHESTNUT DR | 2026-06 | $725,000 | 1,718 | 27.6% |
| 25 PACKANACK LK RD | 2025-04 | $600,000 | 1,934 | 36.8% |
| 41 BRIARWOOD RD | 2025-06 | $665,000 | 1,672 | 26.8% |
| 8 THOMAS TERR | 2025-07 | $730,000 | 1,730 | 28.9% |
| 25 FERNDALE RD | 2025-09 | $785,000 | 1,894 | 23.7% |
| 34 MORNING WATCH RD | 2025-06 | $720,000 | 1,920 | 29.3% |
| 174 HILLCREST DR | 2026-03 | $760,000 | 2,136 | 28.8% |
| 8 TOMAHAWK DRIVE | 2026-06 | $730,000 | 1,915 | 30.5% |
| 362 VALLEY RD | 2025-10 | $685,000 | 1,934 | 26.6% |
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