The Fair Share Report
756 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 $1,268,840 – $1,991,532, from 12 comparable Summit 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 Summit assessments sit below market value — republished every October, applied town-wide. A $1,628,119 home should be assessed near $501,623.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $90,423 below what the ratio math suggests (18.0%).
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
15%41%
Paying about right
This home's ratio lands inside Summit'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 |
|---|---|---|---|---|
| 110 DIVISION AVE | 2025-10 | $1,319,000 | 2,504 | 25.2% |
| 12 BEEKMAN RD | 2025-07 | $2,405,000 | 2,445 | 23.3% |
| 1 LORRAINE RD | 2025-04 | $2,175,000 | 2,491 | 22.3% |
| 37 WADE DR | 2025-12 | $2,151,000 | 2,552 | 28.1% |
| 35 BLACKBURN PL | 2025-05 | $2,000,000 | 2,656 | 22.6% |
| 14 JOANNA WAY | 2026-03 | $1,950,000 | 2,617 | 24.7% |
| 148 DIVISION AVE | 2025-03 | $1,412,000 | 2,347 | 28.3% |
| 109 MOUNTAIN AVE | 2025-12 | $1,825,000 | 2,429 | 20.3% |
| 28 MOUNTAIN AVE | 2025-07 | $1,300,000 | 2,468 | 22.2% |
| 15 CREST ACRE CT | 2026-04 | $1,499,000 | 2,567 | 51.5% |
| 238 WOODLAND AVE | 2025-07 | $1,150,000 | 2,598 | 32.4% |
| 36 DALE DR | 2026-03 | $1,100,000 | 2,529 | 37.8% |
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