Property Taxes in Colts Neck, New Jersey
Median Colts Neck, New Jersey effective property tax rate: 1.47%, significantly higher than the national median of 1.02%, and lower than the New Jersey state median of 2.88%.
Median Colts Neck, New Jersey home value: $919,200
Median annual Colts Neck, New Jersey tax bill: $13,294, $10,894 higher than the national median property tax bill of $2,400.
How are property taxes in Monmouth County calculated?
Property taxes in Colts Neck, 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 Colts Neck's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Colts Neck, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Colts Neck Property Tax Calculator Work?
Use this Colts Neck property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Colts Neck's median effective tax rate of 1.47% — based on actual property records in Monmouth County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment system uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Colts Neck'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 Colts Neck: rates range from 1.47% in 07722 to 1.47% in 07722, 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 Colts Neck.
About Colts Neck Property Taxes
About Property Taxes in Colts Neck, Monmouth, New Jersey
Colts Neck’s median effective property tax rate of 1.47% is lower than the New Jersey state median of 2.88% and higher than the national median of 1.02%. This rate reflects the Monmouth 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 Colts Neck. Homeowners in the 07722 ZIP code carry a median effective rate of 1.47%, while those in the same ZIP code also pay 1.47%. This spread — 0 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Monmouth County. Understanding which part of Colts Neck you live in can make a meaningful difference to your annual tax bill.
Colts Neck homeowners who believe their assessed value is too high can file a formal appeal with the local 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 Colts Neck, Monmouth 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 Colts Neck'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 Colts Neck Tax Rate
1.47%
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 County Tax Rate
1.64%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Colts Neck, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07722 | 1.31% | 1.38% | 1.47% | 1.51% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Colts Neck, Monmouth County, New Jersey
When examining property taxes in Colts Neck, 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 Monmouth 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:
In Monmouth County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of November.
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 Colts Neck.
For example, the median home price in Colts Neck is $919,200, with tax bills ranging significantly across the county. 07722 has the highest median home price at $919,200.
Property Tax Assessment Values Across Colts Neck, Monmouth County, New Jersey
Source: Ownwell
$306,400
$1,667,525
$3,028,650
Median Colts Neck Market Value
$919,200
Median Monmouth County Market Value
$565,900
Median New Jersey Market Value
$288,200
Median United States Market Value
$274,101
Property Tax Assessment Values Across Colts Neck, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07722 | $540,300 | $739,750 | $919,200 | $1,342,950 | $1,949,110 |
Source: Ownwell
Property Tax Bills Across Colts Neck, Monmouth County, New Jersey
Property tax bills in Colts Neck are calculated by applying the local tax rate to a home’s assessed value, which is based on the property’s market value. For homeowners, that means the tax bill is shaped by both the value of the home and the tax rate set by local taxing authorities. With a median home price of $919,200, property taxes in Colts Neck are well above the national median property tax bill of $2,400 and the national median property tax rate of 1.02%.
The typical tax burden is substantial: the 25th percentile bill is $10,789, the 75th percentile is $18,995, and the 90th percentile reaches $27,172. In ZIP code 07722, the median tax bill is $13,294. Higher assessed values generally lead to higher tax bills, so homeowners with more valuable properties often pay more. This can have a major impact on monthly housing costs and long-term affordability.
Property Tax Bills Across Colts Neck, Monmouth County, New Jersey
Source: Ownwell
$5,580
$12,512
$19,444
Median Colts Neck Tax Bill
$13,294
Median Monmouth County Tax Bill
$9,498
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$3,209
Property Tax Bills Across Colts Neck, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07722 | $7,917 | $10,789 | $13,294 | $18,995 | $27,172 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | January 15 |
Links | |
|---|---|
| Monmouth Tax Assessor | |
| Website | oprs.co.monmouth.nj.us |