The Fair Share Report
768 Springfield Ave E4
Summit, NJ 07928
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 $516,748 – $819,706, from 12 comparable Summit sales in the past 18 months, at this home's 1,150 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 $728,857 home should be assessed near $224,561.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $69,061 below what the ratio math suggests (30.8%).
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
14%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 |
|---|---|---|---|---|
| 1 EUCLID AVE APT 4-C | 2025-09 | $1,078,000 | 1,302 | 21.2% |
| 1 EUCLID AVE APT 4-E | 2025-07 | $680,000 | 954 | 28.7% |
| 417 MORRIS AVE UNIT 41 | 2025-06 | $555,000 | 1,024 | 20.2% |
| 67-75 NEW ENGLAND AVE 67D | 2025-10 | $792,500 | 1,232 | 26.5% |
| 67-75 NEW ENGLAND AVE 75C | 2025-04 | $788,500 | 1,232 | 26.7% |
| 68-86 NEW ENG.AVE UNIT 13 | 2025-04 | $551,000 | 1,156 | 30.6% |
| 412 MORRIS AVE,UNIT 47 | 2025-06 | $460,000 | 1,046 | 28.3% |
| 412 MORRIS AVE,UNIT 27 | 2025-01 | $401,000 | 1,046 | 32.4% |
| 68-86 NEW ENG.AVE UNIT 41 | 2025-06 | $550,000 | 1,224 | 25.8% |
| 417 MORRIS AVE UNIT 7 | 2025-06 | $649,000 | 1,024 | 22.4% |
| 412 MORRIS AVE,UNIT 9 | 2026-04 | $385,000 | 969 | 36.4% |
| 412 MORRIS AVE,UNIT 17 | 2025-10 | $450,000 | 969 | 26.7% |
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