Mannington, New Jersey Property Taxes
The median property tax rate in Mannington, NJ is 3.47%, 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 Mannington at $55,800, the typical annual property tax bill reaches $1,935, which is below the national median of $2,690. Property taxes in Mannington 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 Mannington'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 Mannington 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
Mannington, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.47%
Estimate Property Tax Bill
$1,936
Ownwell’s Mannington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mannington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mannington 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 Mannington, New Jersey
Property taxes in Mannington, NJ, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mannington is 3.47%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mannington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mannington 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 Mannington's effective property tax rate to other areas in NJ and the national median. For comparison, the zip code 08079 has the highest median property tax rate of 3.47%, while the same zip code also has the lowest median tax rate of 3.47%. Understanding how these areas compare with Mannington provides valuable insights into the varying tax landscape across Salem County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mannington Tax Rate
3.47%
Average Salem County Tax Rate
3.71%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mannington, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08079 | 3.47% | 3.47% | 3.47% | 3.47% | 3.47% |
Source: Ownwell
Property Tax Assessment Values Across Mannington, New Jersey
In Mannington, 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 Mannington, 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. For example, the median home price in Mannington is $55,800, with tax bills ranging from $1,311 at the 25th percentile to $2,933 at the 90th percentile. The highest and lowest median tax bills are both $1,935 in the 08079 zip code. By understanding these valuation processes, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Mannington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mannington Assessed Value
$55,800
Average Salem County Assessed Value
$154,700
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mannington, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08079 | $27,000 | $37,800 | $55,800 | $73,800 | $84,600 |
Source: Ownwell
Property Tax Bills Across Mannington, New Jersey
In Mannington, 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 assessor's office and reflects a percentage of the property's market value. Homeowners in Mannington can expect their property tax bill to be influenced by several factors, including property size, location, and any improvements made to the home. For instance, with a median home price of $55,800, property taxes can vary significantly. The 25th percentile tax bill is around $1,311, while the 75th percentile reaches $2,559, and the 90th percentile can be as high as $2,933. These figures highlight the variability in tax bills within the city. Compared to the national median property tax rate of 0.99%, Mannington's rates can be seen as relatively high, impacting homeowners by adding a substantial annual cost to homeownership. This can affect decisions on buying, selling, or making improvements to properties within the city.
Average Mannington Tax Bill
$1,935
Average Salem County Tax Bill
$5,715
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Mannington, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08079 | $936 | $1,311 | $1,935 | $2,559 | $2,933 |
Source: Ownwell