Manchester, New Jersey Property Taxes
The median property tax rate in Manchester, 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, the typical annual property tax bill reaches $3,524, exceeding the national median of $2,690. Property taxes in Manchester 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'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 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, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$3,561
$3,304
Ownwell’s Manchester Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Manchester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manchester to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available further down the page. Your property’s assessed value is the figure assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Manchester, New Jersey
Property taxes in Manchester, NJ, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manchester is 2.17%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Manchester set these rates annually, and they can vary across different neighborhoods. Each year, Manchester 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 Manchester's effective property tax rate to other areas in New Jersey and the national median. For comparison, the 08757 zip code has the highest median property tax rate of 2.17%, while the 08759 zip code has the lowest median tax rate of 2.17%. Understanding how these areas compare with Manchester 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 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, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08757 | 2.17% | 2.17% | 2.17% | 2.17% | 2.17% |
| 08759 | 2.00% | 2.17% | 2.17% | 2.17% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Manchester, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Manchester, NJ. 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 Ocean 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 Manchester, 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 highest median tax bill in the area is $3,551 in the 08759 zip code, while the lowest median tax bill is $1,922 in the 08757 zip code. 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 Manchester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Manchester, New Jersey
Source: Ownwell
$88,700
$589,800
$1,090,900
Average Manchester Assessed Value
$164,100
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, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08757 | $72,700 | $88,700 | $88,700 | $94,000 | $102,500 |
| 08759 | $110,400 | $133,800 | $165,600 | $232,950 | $299,800 |
Source: Ownwell
Property Tax Bills Across Manchester, New Jersey
In Manchester, located in Ocean 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 county assessor and reflects a percentage of the market value of the property. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For instance, Manchester homeowners in the 25th percentile pay around $2,732 annually, while those in the 75th percentile see bills closer to $4,939. The highest median tax bill in the area is $3,551 in the 08759 zip code, whereas the lowest is $1,922 in the 08757 zip code. These property taxes significantly impact homeowners by contributing to the cost of homeownership and funding essential public services like schools, infrastructure, and emergency services. With the national median property tax rate at 0.99%, Manchester’s property tax rates can vary widely, affecting affordability and budget planning for residents.
Average Manchester Tax Bill
$3,524
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, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08757 | $1,575 | $1,922 | $1,922 | $2,037 | $2,221 |
| 08759 | $2,247 | $2,821 | $3,551 | $4,995 | $6,429 |
Source: Ownwell