The Fair Share Report
703 Terhune 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 $571,418 – $774,684, 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 $686,005 home should be assessed near $245,727.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $11,927 below what the ratio math suggests (4.9%).
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 |
|---|---|---|---|---|
| 886 ALPS RD | 2025-04 | $705,000 | 2,025 | 35.0% |
| 474 NEWARK POMPTON TPKE | 2025-05 | $575,000 | 1,698 | 31.2% |
| 58 HARDWICK LANE | 2025-10 | $679,500 | 2,156 | 36.0% |
| 249 PARISH DR | 2026-05 | $690,000 | 1,900 | 30.1% |
| 249 PARISH DR | 2025-12 | $500,000 | 1,900 | 41.5% |
| 476 TERHUNE DR | 2025-11 | $620,000 | 1,656 | 28.6% |
| 197 RATZER RD | 2025-10 | $900,000 | 1,876 | 25.8% |
| 789 BLACK OAK RIDGE RD | 2024-12 | $660,000 | 2,322 | 28.6% |
| 90 WEINMANNS BLVD | 2025-12 | $885,000 | 1,932 | 30.9% |
| 58 VAN DUYNE AVE | 2025-11 | $250,000 | 1,526 | 39.4% |
| 33 IOWA RD | 2025-04 | $715,000 | 1,830 | 34.1% |
| 24 CASTLES DR | 2025-05 | $825,000 | 1,870 | 32.9% |
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