The Fair Share Report
7 Lake Dr E
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 $725,800 – $864,637, 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 $806,331 home should be assessed near $288,828.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $10,972 above what the ratio math suggests (3.8%).
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%
A touch high — worth watching
This home's ratio sits above most of Wayne, but doesn't clear NJ's legal appeal line (41.19%).
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 18 BREEN TERR | 2025-07 | $861,000 | 2,144 | 31.2% |
| 100 WILSON AVE | 2026-01 | $742,500 | 2,160 | 31.7% |
| 44 GROVER DR | 2025-08 | $860,000 | 2,106 | 27.4% |
| 508 PINES LAKE DR E | 2026-06 | $750,000 | 2,242 | 30.7% |
| 39 TERRACE RD | 2025-09 | $900,000 | 2,196 | 25.8% |
| 63 ELERON PLACE | 2026-01 | $800,000 | 2,166 | 31.3% |
| 8 WEDGEWOOD DR | 2026-06 | $780,000 | 2,044 | 28.8% |
| 526 INDIAN RD | 2025-06 | $975,000 | 2,191 | 27.1% |
| 15 ELLA LANE | 2026-06 | $822,000 | 2,076 | 27.3% |
| 1666 HAMBURG TPKE | 2025-08 | $480,000 | 2,358 | 53.5% |
| 99 CHESTNUT DR | 2025-07 | $807,000 | 2,016 | 28.1% |
| 16 BALDWIN TERR | 2025-09 | $869,000 | 2,154 | 29.8% |
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