Information regarding your new Tax Assessment Cards
The County of Monmouth has prepared the attached document to be used to help answer general questions concerning the 2015 implementation of the Assessment Demonstration Program.
In 2013, the State of New Jersey passed a law to allow a pilot tax assessment program for Monmouth County, called the Monmouth County Assessment Demonstration Program
As a result your assessment may have increased or decreased for the 2015 tax year based on the available sales data.
UNDERSTANDING YOUR ASSESSMENT – Do this first before calling…
Reviewing this information is easy and time well spent. Here’s how:
Your assessed value on your card is 81.21% of market value in Manasquan. In order to determine your market value you would:
- Take the information from your card noted as the total assessed value
- Divide it by the Assessment Ratio which is 81.21%.
- That number would be the expected Market Value.
Here is an example:
$300,000 (value of land and improvements) / (divide by) .8121 (ratio)
= $369,400 (Rounded Market Value)
Analyze sales that are most similar to your home. If you have a ranch, look at ranch sales, colonials compare to colonials, etc. If the “usable” sales are less than your equalized value, you have the right to file an appeal with the Monmouth County Board of Taxation by January 15, 2015. Appeals are filed through the County on line at https://secure.njappealonline.com/prodappeals/login.aspx. Click on these links for additional information and paper forms, but we strongly encourage you to use the online system.
Usable sales are not sales from distress ex-Sandy damage, foreclosure, name changes, etc.
When filing an appeal, you cannot separate land and improvements (building) value.
Please understand that the property tax impact of your new assessed value for 2015 will not be known until after the appeals and 2015 budget process for the County, School, Municipality and Fire District have been completed.
Should you have any questions about the Monmouth County Assessment Demonstration Program, you can call (732) 431-7404 or email Matt Clark, Monmouth County Tax Administrator at firstname.lastname@example.org
Should you have any questions about your assessment, email your questions to email@example.com or call the Manasquan Tax Assessor’s office at 732-223-0544 extension 238. The Tax Assessor is a part time position. Therefore for faster service, it is strongly suggested to email your information with your name and Manasquan address.
If you would like to learn more about the Monmouth County Assessment Demonstration Program and questions about your assessment, join us on Wednesday December 3, 2014 at 6pm at Borough Hall. TO ATTEND - PLEASE RSVP your attendance at firstname.lastname@example.org.
Other Resources and News
Monmouth County Board of Taxation
File a Tax Appeal Online
Tax Appeal Changes Take Effect in Monmouth County
Information on the new law