As reported to you in the fall of 2005, the Ocean County Board of Taxation ordered the township to conduct a Reassessment to be completed by tax year 2008. The Assessor’s office conducted more than a dozen public meetings for residents to obtain information concerning the Reassessment process and to answer any related questions. Reassessment is the process of appraising all real estate in a municipality according to its full and fair value, to ensure that each property owner pays their fair share of taxes. The process is revenue neutral, meaning the purpose is not to raise property taxes. The purpose is to ensure that the property tax assessments are fair and equitable. The last reassessment in the township was in 1997.
One of the requirements of the Reassessment process is to complete an inspection of all properties in the Township. We have completed 13,500 inspections or 90% of the residential houses. Inspections are still being completed in the Whiting section of the Township. The resident’s cooperation with the inspection process has been tremendous and is greatly appreciated. Once all of the inspections are completed the Assessor’s office will begin the valuation process. The market value for each property in the township will be determined as of October 1, 2007. We have been closely monitoring changes in the real estate market and the changes will be reflected in the market value of each property. Each property owner will be sent a notice informing them of the new assessed value. The letters will be sent to each property owner during the months of November and December 2007. Residents will be given the opportunity to arrange for an informal review of the new assessments. The impact of the new assessments will not affect the property owner’s tax bill until the 2008 tax year.
A reassessment does not necessarily mean an increase in taxes for every homeowner. The tax rate will go down significantly to compensate for the increase in the assessed values. Since not all properties have appreciated in value at the same rate, some tax bills will go up, some will stay the same and others will go down.
You can obtain additional information about the Reassessment process by accessing the Township’s website at www.manchestertwp.com. If any resident should have a question or concern related to the reassessment, they should contact the Tax Assessor’s office at 732-657-8121.