Property Taxes in Carteret, New Jersey
Median Carteret, New Jersey effective property tax rate: 3.11%, significantly higher than the national median of 1.02%, and higher than the New Jersey state median of 2.88%.
Median Carteret, New Jersey home value: $239,200
Median annual Carteret, New Jersey tax bill: $7,414, $5,014 higher than the national median property tax bill of $2,400.
How are property taxes in Middlesex calculated?
Property taxes in Carteret, 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 Carteret's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Carteret, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Carteret Property Tax Calculator Work?
Use this Carteret property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Carteret's median effective tax rate of 3.11% — based on actual property records in Middlesex County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessor uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Carteret'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 Carteret: rates range from 3.11% in 07008 to 3.11% in 07008, 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 Carteret.
About Carteret Property Taxes
About Property Taxes in Carteret, Middlesex, New Jersey
Carteret’s median effective property tax rate of 3.11% is higher than the New Jersey state median of 2.88% and higher than the national median of 1.02%. This rate reflects the Middlesex 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 Carteret. Homeowners in the 07008 ZIP code carry a median effective rate of 3.11%, while those in the lowest ZIP also pay 3.11%. This spread reflects how school district boundaries and local assessment districts are drawn across Middlesex County. Understanding which part of Carteret you live in can make a meaningful difference to your annual tax bill.
Carteret homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the April 1, 2026 deadline each year.
If your estimated bill above 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 Carteret, Middlesex 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 Carteret'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 Carteret Tax Rate
3.11%
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 Middlesex County Tax Rate
5.52%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Carteret, Middlesex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07008 | 3.11% | 3.11% | 3.11% | 3.11% | 3.11% |
Source: Ownwell
Property Tax Assessment Values Across Carteret, Middlesex County, New Jersey
When examining property taxes in Carteret, 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 Middlesex 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 are sent in February each year. They typically reach your mailbox by the middle of the month.
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. The median home price in Carteret is $239,200, and the median tax bill is $7,414, well above the national median property tax bill of $2,400 and the national median property tax rate of 1.02%. In 07008, the highest median home price is $239,200.
Property Tax Assessment Values Across Carteret, Middlesex County, New Jersey
Source: Ownwell
$66,900
$316,000
$565,100
Median Carteret Market Value
$239,200
Median Middlesex County Market Value
$167,900
Median New Jersey Market Value
$288,200
Median United States Market Value
$274,101
Property Tax Assessment Values Across Carteret, Middlesex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07008 | $186,170 | $213,675 | $239,200 | $267,800 | $310,400 |
Source: Ownwell
Property Tax Bills Across Carteret, Middlesex County, New Jersey
Property tax bills in Carteret are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. That means the bill depends on both how much the home is worth and the tax rate set by local governments and school districts.
For a home with a median market value of $239,200, the property tax bill can vary widely across homeowners. In Carteret, the 25th percentile tax bill is $6,637, the median tax bill is $7,414, the 75th percentile tax bill is $8,299, and the 90th percentile tax bill is $9,606. Those figures show how differences in assessed value and local tax rates can lead to very different bills, even within the same city.
For homeowners, this can have a major impact on monthly housing costs and long-term affordability, especially when local bills are well above the national median property tax bill of $2,400.
Median Carteret Tax Bill
$7,414
Median Middlesex County Tax Bill
$8,723
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$3,209
Property Tax Bills Across Carteret, Middlesex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07008 | $5,846 | $6,637 | $7,414 | $8,299 | $9,606 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 1 |
Links | |
|---|---|
| Middlesex Tax Assessor | |
| Website | www.taxdatahub.com |