The Fair Share Report
75 Summit Ave
Newark, NJ 07112
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 $368,086 – $701,336, from 12 comparable Newark 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 Newark assessments sit below market value — republished every October, applied town-wide. A $475,542 home should be assessed near $193,498.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $4,102 above what the ratio math suggests (2.1%).
Step 4 · The tax rate — same for every Newark home
$1.162 Schools · 29% $0.519 County · 13% $2.318 Town · 58%
Step 5 · The bill
This home vs. every recent Newark sale · assessed ÷ market
18%59%
Paying about right
This home's ratio lands inside Newark'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 |
|---|---|---|---|---|
| 180 HOBSON ST | 2025-10 | $645,000 | 2,264 | 23.9% |
| 265-267 WEST END AVE | 2025-01 | $269,412 | 2,260 | 54.0% |
| 74 MAPLE AVE | 2025-06 | $700,000 | 2,283 | 17.1% |
| 294 POMONA AVE | 2025-05 | $285,000 | 2,336 | 59.6% |
| 65 BOYLAN ST | 2025-11 | $165,000 | 2,336 | 50.6% |
| 27 IRVING AVE | 2025-04 | $390,000 | 2,315 | 50.6% |
| 249-251 ALDINE ST | 2024-12 | $450,000 | 2,452 | 35.1% |
| 225-227 WAINWRIGHT ST | 2025-01 | $420,000 | 2,424 | 48.1% |
| 151 KEER AVE | 2026-03 | $460,000 | 2,306 | 46.4% |
| 268 LEHIGH AVE | 2025-12 | $645,000 | 2,304 | 23.8% |
| 71 GARRISON ST | 2025-03 | $900,000 | 2,466 | 23.7% |
| 436-438 RIDGE ST | 2025-11 | $575,000 | 2,206 | 36.9% |
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