Tax Assessor

Houses from Above

The Toms River Township Tax Assessor is governed by State law and regulated by the Director of the Division of Taxation while supervised by the Ocean County Board of Taxation. The Assessor is statutorily responsible to discover, list, describe, and value, for taxation proposes, all real property within the municipal boundaries.  Assessed values are based on a percentage of true or market value.  The Assessor must determine the full and fair assessed value of each parcel of property in the municipality.

In addition to determining assessed values, the Tax Assessor's Office also maintains the following:

  •  Descriptive Property Record Card Information
  •  Ownership Records
  •  Property Tax Deductions
  •  Property Tax Exemptions
  •  Qualified Farmland
  •  Tax Maps
  1. Definition of Market Value
  2. How Property is Valued for Property Tax Purposes

Market Value

Market value is the most probable price that a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:

  • buyer and seller are typically motivated;
  • both parties are well informed or well advised, and each acting in what he or she considers his/her own best interest;
  • a reasonable time is allowed for exposure in the open market;
  • payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and
  • the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.

Property Tax Deductions and 100% Disabled Veteran Exemption