Milltown, Middlesex County, New Jersey Property Taxes

Name: Property Tax Bills Across Milltown, Middlesex County, New Jersey
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Milltown, NJ effective property tax rate: 6.60%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Milltown, NJ home value: $152,700
Median annual Milltown, NJ tax bill: $10,326, $7,926 higher than the national median property tax bill of $2,400.

How are property taxes in Middlesex calculated?

Property taxes in Milltown, NJ 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 Milltown’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Milltown, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Milltown, Middlesex County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

6.6%

Estimate Property Tax Bill

$10,078

$9,352

Ownwell’s Milltown Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Milltown with just two data points. By entering your property's estimated assessed value, our calculator applies Milltown’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Middlesex County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Milltown, Middlesex County, New Jersey

Local government entities set tax rates, which can vary widely within a state. This is 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 Milltown’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S. Milltown, located in Middlesex County, stands out with a median property tax rate of 6.60%. This is significantly higher than the national median property tax rate of 1.02%. Homeowners in Milltown face property tax bills that are considerably above the national median of $2,400. This high rate reflects the local government's budgetary needs and the value of properties in the area. Understanding these rates can help homeowners make informed decisions about property investments and tax appeals.

Property Tax Rates Across Milltown, Middlesex County, New Jersey

Source: Ownwell

1.78%

7.20%

12.62%

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 Milltown Tax Rate

6.60%

Median Effective Middlesex County Tax Rate

5.10%

Median Effective New Jersey Tax Rate

2.82%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Milltown, Middlesex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08850	5.50%	6.60%	6.60%	6.60%	11.64%

Source: Ownwell

Property Tax Assessment Values Across Milltown, Middlesex County, New Jersey

When examining property taxes in Milltown, NJ, 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. Middlesex County 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 Middlesex County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Milltown. For example, the median home price in Milltown is $152,700, with tax bills ranging significantly across the county. 08850 has the highest median home price at $152,700.

Property Tax Assessment Values Across Milltown, Middlesex County, New Jersey

Source: Ownwell

$66,600

$322,300

$578,000

Median Milltown Market Value

$152,700

Median Middlesex County Market Value

$158,000

Median New Jersey Market Value

$282,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Milltown, Middlesex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08850	$103,270	$127,300	$152,700	$189,300	$216,100

Source: Ownwell

Property Tax Bills Across Milltown, Middlesex County, New Jersey

In Milltown, Middlesex County, NJ, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. Homeowners in this area face one of the highest median property tax bills in the country, with a significant $10,326 compared to the national median of $2,400. The tax bill can vary significantly, with the 25th percentile at $8,601 and the 75th percentile reaching $12,536. These figures highlight the financial impact on homeowners, who must navigate these substantial costs. Factors such as changes in the housing market and local government budgets can influence tax rates and assessments, affecting the overall tax bill. Ownwell can assist homeowners in Milltown by reviewing their property assessments to identify potential inaccuracies or overvaluations. Our experts work to appeal these assessments and secure exemptions, potentially lowering the tax burden. By leveraging our services, homeowners can ensure they are not overpaying and can achieve significant savings on their property tax bills.

Property Tax Bills Across Milltown, Middlesex County, New Jersey

Source: Ownwell

$4,686

$8,118

$11,549

Median Milltown Tax Bill

$10,326

Median Middlesex County Tax Bill

$7,840

Median New Jersey Tax Bill

$8,227

Median United States Tax Bill

$2,400

Property Tax Bills Across Milltown, Middlesex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08850	$7,113	$8,601	$10,326	$12,536	$14,532

Source: Ownwell