The Fair Share Report
768 Springfield Ave E2
Summit, NJ 07092
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
Good news — this home pays less than its share
Its assessment sits low relative to what homes like it actually sell for. An appeal would only invite a fresh look at a number working in the owner's favor.
Step 1 · Market value
Likely range $822,781 – $1,575,412, 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 $918,795 home should be assessed near $283,081.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $119,581 below what the ratio math suggests (42.2%).
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
5%41%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 1 EUCLID AVE APT 3-B | 2026-06 | $1,460,000 | 1,720 | 20.0% |
| 1 EUCLID AVE APT 3-B | 2025-08 | $1,450,000 | 1,720 | 20.1% |
| 28 MORRIS AVE APT DD1 | 2026-03 | $825,000 | 1,676 | 28.4% |
| 28 MORRIS AVE APT N6 | 2025-08 | $740,000 | 1,676 | 31.0% |
| 28 MORRIS AVE APT EE11 | 2025-07 | $900,000 | 1,676 | 25.7% |
| 67-75 NEW ENGLAND AVE 71B | 2025-02 | $900,000 | 1,688 | 27.2% |
| 1 EUCLID AVE APT 4-C | 2025-09 | $1,078,000 | 1,302 | 21.2% |
| 14 EUCLID AVENUE UNIT 102 | 2026-06 | $1,600,000 | 1,662 | 24.0% |
| 103 PARK AVE - UNIT E201 | 2025-12 | $389,000 | 1,818 | 33.3% |
| 91 SPRINGFIELD AV.-1A | 2025-07 | $850,000 | 2,000 | 25.2% |
| 13 HENRY ST | 2025-06 | $900,000 | 1,715 | 30.2% |
| 103 PARK AVE - UNIT D1 | 2025-03 | $525,000 | 2,015 | 29.4% |
Is this your house?
Run your own report →