The Fair Share Report
654 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 $1,872,748 – $2,467,965, from 12 comparable Summit sales in the past 18 months, at this home's 3,326 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 $2,166,775 home should be assessed near $667,583.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $249,583 below what the ratio math suggests (37.4%).
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
11%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 |
|---|---|---|---|---|
| 25 BEDFORD ROAD | 2026-04 | $1,900,000 | 3,385 | 27.5% |
| 125 HILL CREST AVE | 2025-10 | $3,325,000 | 4,481 | 29.1% |
| 10 BEACON RD | 2025-01 | $2,500,000 | 4,230 | 36.5% |
| 71 DALE DR | 2026-05 | $2,595,000 | 3,287 | 24.9% |
| 139 WOODLAND AVE | 2025-06 | $2,700,000 | 3,303 | 26.7% |
| 571 SPRINGFIELD AVE #1A | 2025-09 | $1,312,500 | 2,320 | 31.6% |
| 50 NEW ENGLAND AV-UNIT 1H | 2025-09 | $1,275,000 | 2,320 | 32.7% |
| 25 NORWOOD AVENUE, UNIT 3 | 2025-07 | $1,750,000 | 3,345 | 31.4% |
| 27 BEEKMAN RD | 2025-11 | $2,295,000 | 3,219 | 26.5% |
| 284 KENT PLACE BLVD | 2025-06 | $2,000,000 | 3,070 | 24.8% |
| 75 TANGLEWOOD DR | 2025-06 | $2,260,000 | 3,154 | 24.4% |
| 11 LINDA LANE | 2025-08 | $1,750,000 | 3,108 | 31.9% |
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