Manville, New Jersey Property Taxes
The median property tax rate in Manville, NJ is 2.62%, 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 Manville, the typical annual property tax bill reaches $7,495, exceeding the national median of $2,690. Property taxes in Manville 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 Manville'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 Manville 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
Manville, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.62%
Estimate Property Tax Bill
$7,826
$7,262
Ownwell’s Manville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manville 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 Manville, New Jersey
Property taxes in Manville, 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 Manville is 2.62%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Manville set these rates annually, and they can vary across different neighborhoods. Each year, Manville 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 Manville's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 08835 has the highest median property tax rate of 2.62%, while the same zip code also has the lowest median tax rate of 2.62%. Understanding how these rates compare with Manville provides valuable insights into the varying tax landscape across Somerset County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manville Tax Rate
2.62%
Average Somerset County Tax Rate
2.05%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08835 | 2.10% | 2.54% | 2.62% | 2.62% | 2.62% |
Source: Ownwell
Property Tax Assessment Values Across Manville, New Jersey
In Manville, 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 Somerset 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 Manville, 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. Manville’s median home price stands at $298,700, with tax bills ranging from $6,215 at the 25th percentile to $9,435 at the 90th percentile. The zip code 08835 has both the highest and lowest median tax bill, at $7,495. 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.
Average Manville Assessed Value
$298,700
Average Somerset County Assessed Value
$415,100
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08835 | $191,640 | $250,925 | $298,700 | $332,275 | $368,100 |
Source: Ownwell
Property Tax Bills Across Manville, New Jersey
In Manville, 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 the county and reflects the market value of the property. Homeowners in Manville experience property tax rates that significantly exceed the national median property tax rate of 0.99%. For instance, the median home price in Manville is $298,700, leading to a substantial tax bill for residents. Factors considered in determining the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions. Homeowners at the 25th percentile can expect a tax bill of around $6,215, while those at the 75th percentile face a bill of approximately $8,489. At the 90th percentile, the tax bill can soar to $9,435. These high tax bills can significantly impact homeowners, influencing their financial planning and overall cost of living. The highest and lowest median tax bills in Manville are both recorded at $7,495, indicating a consistent tax rate across different properties.
Average Manville Tax Bill
$7,495
Average Somerset County Tax Bill
$9,311
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Manville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08835 | $4,992 | $6,215 | $7,495 | $8,489 | $9,435 |
Source: Ownwell