The Fair Share Report
76 Beekman Rd
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 $880,011 – $1,412,881, from 12 comparable Summit sales in the past 18 months, at this home's 1,638 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 $1,069,749 home should be assessed near $329,590.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $290,110 above what the ratio math suggests (88.0%).
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
16%76%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (35.43%) — roughly $12,968/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 80 GLENSIDE AVE | 2025-06 | $680,000 | 1,680 | 28.4% |
| 51 TULIP ST | 2025-07 | $1,460,000 | 1,648 | 23.6% |
| 170 CANOE BROOK PKWY | 2026-03 | $1,500,000 | 1,739 | 23.6% |
| 19 TULIP ST | 2025-11 | $700,000 | 1,593 | 42.5% |
| 147 CANOE BROOK PKWY | 2025-11 | $1,700,000 | 2,021 | 21.5% |
| 25 CLARK ST | 2025-08 | $1,250,000 | 1,914 | 15.4% |
| 14 CHAPEL ST | 2025-06 | $1,150,000 | 1,885 | 20.8% |
| 276 KENT PLACE BLVD | 2026-04 | $1,306,000 | 1,774 | 18.1% |
| 42 PARKVIEW TERR | 2025-05 | $1,650,000 | 1,722 | 24.4% |
| 77 TULIP ST | 2025-11 | $875,000 | 1,496 | 33.3% |
| 17 BEEKMAN TERR | 2026-04 | $1,160,000 | 1,317 | 27.6% |
| 14 HARVARD ST | 2025-05 | $979,000 | 1,605 | 28.5% |
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