The Fair Share Report
83 Lake Dr E
Wayne, NJ 07470
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.
The numbers support an appeal
Even at the cautious end of the range, this home's ratio clears NJ's Chapter 123 line (41.19%) — roughly $6,012/yr at stake. NJ appeals are generally due April 1.
Step 1 · Market value
Likely range $801,469 – $984,101, from 12 comparable Wayne sales in the past 18 months, at this home's 2,849 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Wayne assessments sit below market value — republished every October, applied town-wide. A $871,752 home should be assessed near $312,262.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $100,238 above what the ratio math suggests (32.1%).
Step 4 · The tax rate — same for every Wayne home
$3.337 Schools · 56% $1.251 County · 21% $1.409 Town · 23%
Step 5 · The bill
This home vs. every recent Wayne sale · assessed ÷ market
19%57%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 108 ALGONQUIN TRAIL | 2025-01 | $905,000 | 2,620 | 28.0% |
| 99 BEECH TERR | 2026-05 | $815,000 | 2,494 | 26.4% |
| 55 LEWIS ST | 2025-06 | $799,999 | 2,631 | 25.5% |
| 14 ONEIDA TRAIL | 2026-03 | $765,000 | 2,636 | 29.4% |
| 25 FERN TERR | 2025-08 | $800,000 | 2,887 | 37.8% |
| 37 HAMILTON AVE | 2025-05 | $950,000 | 2,576 | 31.1% |
| 53 SUNSET TERR | 2025-08 | $760,000 | 2,463 | 34.5% |
| 2 CAYUGA TRAIL | 2025-08 | $915,000 | 3,488 | 29.6% |
| 4 HIGHFIELD COURT | 2026-04 | $910,000 | 2,974 | 27.4% |
| 39 BRAEMAR DR | 2025-01 | $867,000 | 2,839 | 31.0% |
| 40 LAKE DR E | 2025-09 | $816,000 | 2,258 | 28.4% |
| 525 PINES LAKE DR | 2026-04 | $1,115,000 | 2,913 | 25.9% |
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