Monmouth Junction, Middlesex County, New Jersey Property Taxes

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

Median MONMOUTH JUNCTION, NJ effective property tax rate: 5.05%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median MONMOUTH JUNCTION, NJ home value: $180,000
Median annual MONMOUTH JUNCTION, NJ tax bill: $8,775, $6,375 higher than the national median property tax bill of $2,400.

How are property taxes in Middlesex calculated?

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

Last Updated March 1, 2025

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

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

5.05%

Estimate Property Tax Bill

$9,090

$8,435

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

Local government entities set tax rates, which can vary widely within a state. 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 Monmouth Junction’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S. Monmouth Junction, located in Middlesex County, stands out with a notably high median property tax rate. This rate is significantly above the national median of 1.02%, highlighting the region's higher-than-average property tax burden. For homeowners in Monmouth Junction, understanding this rate is crucial, as it directly impacts annual property tax bills, which can be considerably higher than the national median of $2,400. Comparing these figures to other areas in New Jersey can provide valuable insights for current and prospective homeowners, helping them make informed decisions about property investments and financial planning.

Property Tax Rates Across Monmouth Junction, 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 Junction Tax Rate

5.05%

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 Junction, Middlesex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08852	4.25%	5.05%	5.05%	5.05%	5.11%

Source: Ownwell

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

When examining property taxes in Monmouth Junction, 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 May. 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 Junction. For example, the median home price in Monmouth Junction is $180,000, with tax bills ranging significantly across the county. 08852 has the highest median home price at $180,000.

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

Source: Ownwell

$66,600

$322,300

$578,000

Median Monmouth Junction Market Value

$180,000

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 Junction, Middlesex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08852	$85,300	$118,825	$180,000	$258,700	$319,500

Source: Ownwell

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

In Monmouth Junction, located in Middlesex County, NJ, property tax bills are determined by the assessed value of a home multiplied by the local tax rate. The assessed value is a percentage of the market value, which is influenced by factors such as location, property size, and home improvements. Homeowners in this area face notably high tax bills, with the median property tax bill reaching $8,775, significantly higher than the national median of $2,400. This disparity places a considerable financial burden on homeowners, impacting their overall housing affordability and financial planning.

Ownwell offers a solution by helping homeowners reduce their property tax bills through expert property tax appeal services. By analyzing property assessments and identifying discrepancies or overvaluations, Ownwell can assist homeowners in potentially lowering their tax obligations. This service not only helps in easing the financial burden but also ensures that homeowners are paying a fair amount based on an accurate property assessment. With Ownwell's expertise, homeowners can achieve significant savings on their annual property tax bills.

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

Source: Ownwell

$4,686

$8,118

$11,549

Median Monmouth Junction Tax Bill

$8,775

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 Junction, Middlesex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08852	$4,160	$5,430	$8,775	$12,961	$15,902

Source: Ownwell