Colts Neck, Monmouth County, New Jersey Property Taxes

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

Median Colts Neck, NJ effective property tax rate: 1.66%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median Colts Neck, NJ home value: $765,400
Median annual Colts Neck, NJ tax bill: $12,576, $10,176 higher than the national median property tax bill of $2,400.

How are property taxes in Monmouth calculated?

Property taxes in Colts Neck, 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 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 March 1, 2025

Colts Neck, Monmouth County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.66%

Estimate Property Tax Bill

$12,706

$11,790

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

Local government entities determine tax rates, which can differ significantly within a state. This variation arises because each county annually estimates its budgetary needs for services and divides that amount by the total value of all taxable property in its jurisdiction. This calculation results in the property tax rate. While voting and legislation play roles in setting tax rates and budgets, this is the core annual process. In Colts Neck, located in Monmouth County, the effective property tax rate is 1.66%. This rate is notably higher than the national median property tax rate of 1.02%. Such a difference highlights the importance of understanding local tax dynamics, as they can significantly impact property owners' financial responsibilities. By comparing Colts Neck's tax rate to other cities in New Jersey and the national median, property owners can gain a clearer picture of how their tax obligations stack up. Understanding these nuances can be crucial for homeowners seeking to manage or appeal their property taxes effectively.

Property Tax Rates Across Colts Neck, 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 Colts Neck Tax Rate

1.66%

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 Colts Neck, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07722	1.48%	1.58%	1.66%	1.69%	1.72%

Source: Ownwell

Property Tax Assessment Values Across Colts Neck, Monmouth County, New Jersey

When examining property taxes in Colts Neck, 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. Assessment notices: In Monmouth 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 Colts Neck. For example, the median home price in Colts Neck is $765,400, with tax bills ranging significantly across the county. 07722 has the highest median home price at $765,400.

Property Tax Assessment Values Across Colts Neck, Monmouth County, New Jersey

Source: Ownwell

$230,800

$1,235,100

$2,239,400

Median Colts Neck Market Value

$765,400

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 Colts Neck, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07722	$500,800	$605,050	$765,400	$1,114,400	$1,593,200

Source: Ownwell

Property Tax Bills Across Colts Neck, Monmouth County, New Jersey

In Colts Neck, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. With a median home price of $765,400, homeowners in Colts Neck face substantial tax bills. The tax bill at the 25th percentile is $9,917, while at the 75th percentile, it rises to $17,534. The 90th percentile tax bill reaches $25,644. Notably, Colts Neck has both the highest and lowest median tax bills in the 07722 zip code, standing at $12,576. These figures are significantly higher than the national median property tax bill of $2,400, reflecting the area's high property values and tax rates. High property taxes can be a burden for homeowners, impacting their overall financial health. Ownwell specializes in helping homeowners reduce their property tax bills by identifying potential savings through appeals and exemptions. By leveraging expertise in local tax regulations, Ownwell ensures homeowners only pay what they truly owe, offering substantial savings and peace of mind.

Property Tax Bills Across Colts Neck, Monmouth County, New Jersey

Source: Ownwell

$5,432

$12,230

$19,028

Median Colts Neck Tax Bill

$12,576

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 Colts Neck, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07722	$8,094	$9,917	$12,576	$17,534	$25,644

Source: Ownwell