Monmouth Jct, Middlesex County, New Jersey Property Taxes

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

Median MONMOUTH JCT, NJ effective property tax rate: 5.10%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median MONMOUTH JCT, NJ home value: $272,700
Median annual MONMOUTH JCT, NJ tax bill: $13,897, $11,497 higher than the national median property tax bill of $2,400.

How are property taxes in Middlesex County calculated?

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

Last Updated March 1, 2025

Monmouth Jct, Middlesex County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

5.1%

Estimate Property Tax Bill

$13,908

$12,906

Ownwell’s Monmouth Jct Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Monmouth Jct with just two data points. By entering your property's estimated assessed value, our calculator applies Monmouth Jct’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 Monmouth Jct, Middlesex County, New Jersey

Local government entities set tax rates, which can vary widely within a state. This is because each county estimates its required budget annually to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting 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. The effective property tax rate in Monmouth Jct in Middlesex County, NJ, is a prime example of how local rates can differ significantly. With a median tax rate of 5.10%, Middlesex County's rate is notably higher than the national median property tax rate of 1.02%. Consequently, property owners in Monmouth Jct face a considerably higher property tax bill compared to the national median of $2,400. This discrepancy highlights the importance of understanding local property tax regulations and potential savings through appeals and exemptions. Comparing Monmouth Jct’s effective property tax rate to other cities in New Jersey and the median property tax rates in the state and the U.S. can offer valuable insights for property owners seeking to manage their tax liabilities effectively.

Property Tax Rates Across Monmouth Jct, 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 Monmouth Jct Tax Rate

5.10%

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 Monmouth Jct, Middlesex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08852	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Monmouth Jct, Middlesex County, New Jersey

When examining property taxes in Monmouth Jct, 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. The Middlesex County Board of Taxation 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.

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 Monmouth Jct. For example, the median home price in Monmouth Jct is $272,700, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Monmouth Jct, Middlesex County, New Jersey

Source: Ownwell

$66,600

$322,300

$578,000

Median Monmouth Jct Market Value

$272,700

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 Monmouth Jct, Middlesex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08852	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Monmouth Jct, Middlesex County, New Jersey

In Monmouth Junction, located in Middlesex County, NJ, property tax bills are determined by the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the local property tax rate to calculate the tax bill. Homeowners in this area face a significant property tax burden, with the 25th percentile tax bill at $13,609 and the 75th percentile reaching $14,185. These figures are considerably higher than the national median property tax bill of $2,400, reflecting the high property tax rates in New Jersey.

Factors such as changes in home value, local government budgets, and tax rate adjustments can all impact a homeowner's tax bill. Ownwell offers valuable assistance to homeowners by providing expert property tax appeal services. By analyzing property assessments and identifying discrepancies, Ownwell can help homeowners potentially reduce their tax bills, ensuring they only pay their fair share. This can lead to substantial savings and provide financial relief in an area where property taxes are notably high.

Property Tax Bills Across Monmouth Jct, Middlesex County, New Jersey

Source: Ownwell

$4,686

$8,118

$11,549

Median Monmouth Jct Tax Bill

$13,897

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 Monmouth Jct, Middlesex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08852	N/A	N/A	N/A	N/A	N/A

Source: Ownwell