The Fair Share Report
89 Chestnut Dr
Wayne, NJ 07470
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 $561,340 – $744,257, from 12 comparable Wayne 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 Wayne assessments sit below market value — republished every October, applied town-wide. A $617,710 home should be assessed near $221,264.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $29,164 below what the ratio math suggests (13.2%).
Step 4 · The tax rate — same for every Wayne home
$3.337 Schools · 56% $1.251 County · 21% $1.409 Town · 23%
This home's own bill implies $5.868 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Wayne sale · assessed ÷ market
19%47%
Paying about right
This home's ratio lands inside Wayne'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 |
|---|---|---|---|---|
| 153 CHESTNUT DR | 2026-06 | $725,000 | 1,718 | 27.6% |
| 132 LINDEN RD | 2026-03 | $640,000 | 1,680 | 27.9% |
| 28 DOGWOOD TERR | 2025-04 | $600,000 | 1,555 | 28.3% |
| 27 CHESTNUT DR | 2025-03 | $605,000 | 1,666 | 32.3% |
| 41 BRIARWOOD RD | 2025-06 | $665,000 | 1,672 | 26.8% |
| 1 LENAPE TRAIL | 2026-02 | $625,000 | 1,855 | 30.8% |
| 35 BEECHWOOD DR | 2026-04 | $475,000 | 1,501 | 37.9% |
| 110 CHESTNUT DR | 2025-08 | $750,000 | 1,715 | 33.1% |
| 19 FERNDALE RD | 2026-05 | $480,000 | 1,611 | 33.6% |
| 59 MAGNOLIA PLACE | 2025-08 | $775,000 | 1,702 | 27.5% |
| 158 WOODHAVEN DR | 2026-01 | $570,000 | 1,575 | 28.8% |
| 185 OAKWOOD DR | 2025-05 | $630,000 | 1,768 | 32.7% |
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