Asbury Park, Monmouth County, New Jersey Property Taxes

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

Median Asbury Park, NJ effective property tax rate: 1.44%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Asbury Park, NJ home value: $496,400
Median annual Asbury Park, NJ tax bill: $6,912, $4,512 higher than the national median property tax bill of $2,400.

How are property taxes in Monmouth County calculated?

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

Last Updated March 1, 2025

Asbury Park, Monmouth County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.44%

Estimate Property Tax Bill

$7,148

$6,633

Ownwell’s Asbury Park Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Asbury Park with just two data points. By entering your property's estimated assessed value, our calculator applies Asbury Park’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 Monmouth County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Asbury Park, Monmouth County, New Jersey

Local government entities determine tax rates, leading to significant variations within a state. Each year, counties estimate the necessary budget to fund services and divide that by the total assessed value of taxable properties. This calculation establishes the property tax rate. Though votes and laws play a role, this is the core of the annual process. Asbury Park in Monmouth County, NJ, features an effective property tax rate of 1.44%, which stands out when compared to other cities in New Jersey. The rate is notably higher than the national median property tax rate of 1.02%. This difference highlights the unique fiscal landscape of New Jersey, where property taxes often exceed national averages. Understanding these rates is crucial for homeowners looking to manage their property tax liabilities effectively. By comparing Asbury Park's rate to both state and national figures, property owners can gain valuable insights into their tax obligations and explore potential savings opportunities through appeals or exemptions.

Property Tax Rates Across Asbury Park, Monmouth County, New Jersey

Source: Ownwell

0.60%

1.69%

2.77%

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 Asbury Park Tax Rate

1.44%

Median Effective Monmouth County Tax Rate

1.86%

Median Effective New Jersey Tax Rate

2.82%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Asbury Park, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07712	1.32%	1.39%	1.44%	1.54%	1.80%

Source: Ownwell

Property Tax Assessment Values Across Asbury Park, Monmouth County, New Jersey

When examining property taxes in Asbury Park, 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 Monmouth County appraisal district 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 Monmouth 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 Asbury Park.

For example, the median home price in Asbury Park is $496,400, with tax bills ranging significantly across the county. 07712 has the highest median home price at $496,400.

Property Tax Assessment Values Across Asbury Park, Monmouth County, New Jersey

Source: Ownwell

$230,800

$1,235,100

$2,239,400

Median Asbury Park Market Value

$496,400

Median Monmouth County Market Value

$467,900

Median New Jersey Market Value

$282,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Asbury Park, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07712	$228,500	$330,900	$496,400	$651,300	$880,420

Source: Ownwell

Property Tax Bills Across Asbury Park, Monmouth County, New Jersey

In Asbury Park, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The effective property tax rate in Monmouth County is notably higher than the national median rate of 1.02%. Homeowners in Asbury Park face a median property tax bill of $6,912, significantly above the national median of $2,400. Factors influencing the tax bill include the home's assessed value and local tax rates, making property taxes a substantial financial consideration for homeowners.

For those in the 25th percentile, tax bills start at $4,475, while those in the 75th percentile see bills around $9,583. At the 90th percentile, homeowners might pay as much as $12,017. This variability underscores the importance of ensuring your property is assessed fairly. Ownwell offers valuable assistance by helping homeowners appeal their property tax assessments and explore potential exemptions. By leveraging expert knowledge, Ownwell can help reduce the financial burden of property taxes, ensuring homeowners aren't overpaying and can potentially save thousands on their annual bills.

Property Tax Bills Across Asbury Park, Monmouth County, New Jersey

Source: Ownwell

$5,432

$12,230

$19,028

Median Asbury Park Tax Bill

$6,912

Median Monmouth County Tax Bill

$8,714

Median New Jersey Tax Bill

$8,227

Median United States Tax Bill

$2,400

Property Tax Bills Across Asbury Park, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07712	$3,085	$4,475	$6,912	$9,583	$12,017

Source: Ownwell