Manchester Township, New Jersey Property Taxes
The median property tax rate in Manchester Township, NJ is 2.17%, 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 Manchester Township at $311,100, the typical annual property tax bill reaches $6,696, far exceeding the national median of $2,690. Property taxes in Manchester Township 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 Manchester Township'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 Manchester Township 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
Manchester Township, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$6,751
Ownwell’s Manchester Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manchester Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manchester Township 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 Manchester Township, New Jersey
Property taxes in Manchester Township, New Jersey, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manchester Township is 2.17%, significantly higher than the U.S. national median of 0.99%. Local government entities within Manchester Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manchester Township 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. For comparison, the 08759 zip code has the highest median property tax rate of 2.17%, while the same zip code also has the lowest median tax rate of 2.17%. Understanding how these rates compare with Manchester Township provides valuable insights into the varying tax landscape across Ocean County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manchester Township Tax Rate
2.17%
Average Ocean County Tax Rate
2.26%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manchester Township, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08759 | 2.08% | 2.17% | 2.17% | 2.17% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Manchester Township, New Jersey
In Manchester Township, 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 local 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 Manchester Township, 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. The median home price in the area is $311,100, with tax bills ranging from $5,778 at the 25th percentile to $8,239 at the 90th percentile. The highest and lowest median tax bills in the township are both $6,696, found in zip code 08759. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Manchester Township, New Jersey
Source: Ownwell
$88,700
$589,800
$1,090,900
Average Manchester Township Assessed Value
$311,100
Average Ocean County Assessed Value
$281,800
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manchester Township, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08759 | $239,980 | $269,500 | $311,100 | $343,250 | $381,560 |
Source: Ownwell
Property Tax Bills Across Manchester Township, New Jersey
In Manchester Township, Ocean County, NJ, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by local assessors and is meant to reflect the market value of the property. Homeowners in Manchester Township face a median home price of $311,100. The property tax rate in this area is significantly higher than the national median of 0.99%, leading to substantial tax bills. For instance, the 25th percentile tax bill in Manchester Township is $5,778, while the 75th percentile reaches $7,405, and the 90th percentile soars to $8,239. The highest median tax bill in the area stands at $6,696, as does the lowest, both in the zip code 08759. These figures illustrate the heavy financial burden property taxes can place on homeowners in this region. The high property taxes can impact homeowners' budgets, potentially influencing decisions on property purchases and long-term financial planning.
Average Manchester Township Tax Bill
$6,696
Average Ocean County Tax Bill
$5,983
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Manchester Township, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08759 | $5,144 | $5,778 | $6,696 | $7,405 | $8,239 |
Source: Ownwell