Manasquan, New Jersey Property Taxes
The median property tax rate in Manasquan, NJ is 1.65%, considerably higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Manasquan at $556,300, the typical annual property tax bill reaches $9,658, exceeding the national median of $2,690. Property taxes in Manasquan are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Manasquan's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Manasquan or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Manasquan, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.65%
Estimate Property Tax Bill
$9,179
Ownwell’s Manasquan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manasquan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manasquan to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Manasquan, New Jersey
Property taxes in Manasquan, New Jersey, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manasquan is 1.65%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Manasquan set these rates annually, and they can vary across different neighborhoods. Each year, Manasquan estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Manasquan's effective property tax rate to other areas in Monmouth County and the national median. For comparison, the zip code 08736 has the highest and lowest median property tax rate of 1.65%. Understanding how these areas compare with Manasquan provides valuable insights into the varying tax landscape across Monmouth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manasquan Tax Rate
1.65%
Average Monmouth County Tax Rate
1.86%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manasquan, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08736 | 1.60% | 1.65% | 1.65% | 2.00% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Manasquan, New Jersey
In Manasquan, New Jersey, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Monmouth County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Manasquan, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Manasquan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $9,658, found in zip code 08736.
Property Tax Assessment Values Across Manasquan, New Jersey
Source: Ownwell
$214,800
$1,639,900
$3,065,000
Average Manasquan Assessed Value
$556,300
Average Monmouth County Assessed Value
$467,900
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manasquan, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08736 | $361,900 | $435,900 | $556,300 | $692,600 | $846,580 |
Source: Ownwell
Property Tax Bills Across Manasquan, New Jersey
In Manasquan, located in Monmouth County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local tax assessor and is meant to reflect the market value of the property. This value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Manasquan experience property tax rates that are significantly higher than the national median property tax rate of 0.99%. The median home price in Manasquan is $556,300, leading to substantial tax bills. For instance, the median property tax bill is $9,658, with the 25th percentile at $7,724 and the 75th percentile reaching $12,380. These high property taxes can significantly impact homeowners, influencing decisions on property investments and overall affordability. Understanding how these taxes are calculated helps homeowners budget appropriately and potentially seek exemptions or appeals to reduce their tax burden.
Average Manasquan Tax Bill
$9,658
Average Monmouth County Tax Bill
$8,714
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Manasquan, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08736 | $6,400 | $7,724 | $9,658 | $12,380 | $15,161 |
Source: Ownwell