Tax Comparison: Ocean city, NJ vs Montrose, MI
Understanding Your Tax Burden
This page compares the three main types of taxes between Ocean city, NJ and Montrose, MI: property tax, income tax, and sales tax. Each of these has a different impact on your overall cost of living.
Property Tax Comparison
Property taxes are collected by local governments and used to fund schools, infrastructure, and other local services. They're typically based on the assessed value of your property.
Our property tax estimates are based on:
- U.S. median home value: $419,200 (2023 data)
- Local effective tax rates for both cities
Ocean city, NJ
$5,554
Based on a $419,200 home
Rate: 1.3248%
Montrose, MI
$5,860
Based on a $419,200 home
Rate: 1.3979%
| Data | Ocean city, NJ | Montrose, MI |
|---|---|---|
| Effective Property Tax Rate | 1.3248% | 1.3979% |
| Estimated Property Tax | $5,554 | $5,860 |
| Home Value Used | $419,200 | $419,200 |
Comparison: Property taxes in Ocean city, NJ are $306 lower than in Montrose, MI for the same home value.
State Income Tax Comparison
Income tax rates and brackets vary by state, impacting residents' overall tax burden. The estimates below are based on standard deductions and typical filing scenarios.
Our income tax estimates consider:
- Single filer: $100,000 annual income
- Married couple: $200,000 combined income
- Median income: $80,600 annual income
NJ
1.4%-10.75%
Single: $3,957
Married: $7,123
MI
4.25%
Single: $4,250
Married: $7,650
| Data | NJ | MI |
|---|---|---|
| Tax Rate | 1.4%-10.75% | 4.25% |
| Single Filer ($100k) | $3,957 | $4,250 |
| Married Couple ($200k) | $7,123 | $7,650 |
| Median Income ($80.6k) | $5,137 | $3,424 |
Comparison: Income taxes in MI are $1,713 lower than in NJ for the median household income.
Sales Tax Comparison
Sales tax rates vary by location and can have a significant impact on your day-to-day expenses. These include state, county, city, and special district taxes that together form the total sales tax rate.
Our sales tax estimates consider:
- Average household taxable spending: $15,500 per year
- Combined state and local rates for both cities
Ocean city, NJ
9.938%
Combined rate
Annual sales tax: $1540
(Based on $15,500 spending)
Montrose, MI
6.000%
Combined rate
Annual sales tax: $930
(Based on $15,500 spending)
| Data | Ocean city, NJ | Montrose, MI |
|---|---|---|
| State Sales Tax | 6.63% | 6.00% |
| Combined Sales Tax | 9.938% | 6.000% |
| Annual Tax Amount | $1,540 | $930 |
Comparison: Shopping in Montrose, MI costs $610 less in annual sales tax than in Ocean city, NJ for the average household.
Tax Comparison Insights
Tax Insights: Ocean city vs Montrose
- Property Tax: Ocean city has a 0.0731 percentage points lower effective property tax rate than Montrose.
- Income Tax: Living in MI could save you approximately $1,713 in state income taxes for a median household income.
- Sales Tax: The combined sales tax rate in Montrose is 3.94 percentage points lower than in Ocean city.
Overall Tax Burden Comparison
Ocean city, NJ
$12,230
Combined annual tax burden
Property
$5,554
Income
$5,137
Sales
$1,540
Montrose, MI
$10,213
Combined annual tax burden
Property
$5,860
Income
$3,424
Sales
$930
Overall Comparison: Montrose, MI has an estimated $2,017 lower total tax burden than Ocean city, NJ based on our standard scenarios.
Important Tax Disclaimer
The tax information provided above is based on publicly available data and standard assumptions. Actual tax situations will vary based on:
- Individual financial circumstances
- Applicable deductions and credits
- Recent changes in tax laws
- Personal spending habits
- Local variations within cities and counties
This comparison is intended for general informational purposes only and should not be considered tax advice. For specific guidance regarding your tax situation, please consult with a qualified tax professional.