Property Taxes in Milford, New Jersey
Median Milford, New Jersey effective property tax rate: 3.13%, significantly higher than the national median of 1.02%, and higher than the New Jersey state median of 2.88%.
Median Milford, New Jersey home value: $270,100
Median annual Milford, New Jersey tax bill: $8,613, $6,213 higher than the national median property tax bill of $2,400.
How are property taxes in Hunterdon calculated?
Property taxes in Milford, New Jersey are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Milford's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Milford, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Milford Property Tax Calculator Work?
Use this Milford property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Milford's median effective tax rate of 3.13% — based on actual property records in Hunterdon County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Milford's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Milford: rates range from 3.13% in 08848 to 3.13% in 08848, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Milford.
About Milford Property Taxes
About Property Taxes in Milford, Hunterdon, New Jersey
Milford’s median effective property tax rate of 3.13% is higher than the New Jersey state median of 2.88% and higher than the national median of 1.02%. This rate reflects the Hunterdon County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Milford. Homeowners in the 08848 ZIP code carry a median effective rate of 3.13%, while those in the same ZIP also pay 3.13%. This shows how local assessment districts and school district boundaries can shape what homeowners owe, even within one city.
Milford homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before April 1, 2026.
If your estimated bill seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Milford, Hunterdon County, New Jersey
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Milford's effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Milford Tax Rate
3.13%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Hunterdon County Tax Rate
2.72%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Milford, Hunterdon County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08848 | 2.80% | 2.80% | 3.13% | 3.13% | 3.99% |
Source: Ownwell
Property Tax Assessment Values Across Milford, Hunterdon County, New Jersey
When examining property taxes in Milford, New Jersey, understanding the distinction between "market value" and "assessed value" is crucial.
The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Hunterdon County tax assessor estimates the market value for tax purposes.
The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Hunterdon County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month when notices are sent.
Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Milford.
For example, the median home price in Milford is $270,100, with tax bills ranging significantly across the county. 08848 has the highest median home price at $270,100.
Property Tax Assessment Values Across Milford, Hunterdon County, New Jersey
Source: Ownwell
$178,200
$350,100
$522,000
Median Milford Market Value
$270,100
Median Hunterdon County Market Value
$378,800
Median New Jersey Market Value
$288,200
Median United States Market Value
$274,101
Property Tax Assessment Values Across Milford, Hunterdon County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08848 | $173,900 | $211,000 | $270,100 | $363,700 | $464,500 |
Source: Ownwell
Property Tax Bills Across Milford, Hunterdon County, New Jersey
Property tax bills in Milford are based on the assessed value of a home and the local tax rate set by taxing authorities. For homeowners, the bill is calculated by applying that rate to the property’s assessed value, so changes in market conditions and local budgets can affect what is owed each year. In Hunterdon County, the median home price is $270,100, and the median property tax bill is $8,613 in ZIP code 08848.
That amount is well above the national median property tax bill of $2,400 and reflects how property taxes can vary significantly by location. In Milford, tax bills also fall within a wide range, with the 25th percentile at $6,815, the 75th percentile at $10,980, and the 90th percentile at $14,001. For homeowners, this means property taxes can represent a major annual expense, making it important to understand how assessments and local tax rates shape the final bill.
Median Milford Tax Bill
$8,613
Median Hunterdon County Tax Bill
$10,258
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$3,209
Property Tax Bills Across Milford, Hunterdon County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08848 | $5,633 | $6,815 | $8,613 | $10,980 | $14,001 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 1 |
Links | |
|---|---|
| Hunterdon Tax Assessor | |
| Website | www.taxdatahub.com |