Matawan, Monmouth County, New Jersey Property Taxes

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

Median Matawan, NJ effective property tax rate: 2.40%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median Matawan, NJ home value: $410,350
Median annual Matawan, NJ tax bill: $9,715, $7,315 higher than the national median property tax bill of $2,400.

How are property taxes in Monmouth County calculated?

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

Last Updated March 1, 2025

Matawan, Monmouth County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.4%

Estimate Property Tax Bill

$9,848

$9,139

Ownwell’s Matawan Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Matawan with just two data points.

By entering your property's estimated assessed value, our calculator applies Matawan’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 Matawan, Monmouth County, New Jersey

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget annually 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.

Matawan, located in Monmouth County, New Jersey, has an effective property tax rate that significantly exceeds the national median. The median property tax rate in New Jersey is notably higher than the national average, reflecting the state's commitment to local services funded through property taxes. Matawan's property tax rate aligns closely with the highest and lowest rates within its zip code, indicating a consistency in the tax burden across the area.

For property owners in Matawan, understanding these rates is crucial, as they directly impact annual tax bills and overall property affordability. Comparing Matawan's tax rate to other cities in New Jersey and the national median provides valuable insight into how local property taxes are structured and their implications for homeowners.

Property Tax Rates Across Matawan, 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 Matawan Tax Rate

2.40%

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 Matawan, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07747	2.19%	2.31%	2.40%	2.44%	2.54%

Source: Ownwell

Property Tax Assessment Values Across Matawan, Monmouth County, New Jersey

When examining property taxes in Matawan, 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 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 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 Matawan. For example, the median home price in Matawan is $410,350, with tax bills ranging significantly across the county. ZIP code 07747 has the highest median home price at $410,350.

Property Tax Assessment Values Across Matawan, Monmouth County, New Jersey

Source: Ownwell

$230,800

$1,235,100

$2,239,400

Median Matawan Market Value

$410,350

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 Matawan, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07747	$242,710	$331,600	$410,350	$472,000	$528,820

Source: Ownwell

Property Tax Bills Across Matawan, Monmouth County, New Jersey

In Matawan, located in Monmouth County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and reflects the market value of the property. Matawan homeowners face a median property tax bill of $9,715, significantly higher than the national median of $2,400. This discrepancy underscores the importance of understanding how property taxes are calculated and the potential impact on homeowners' finances. Factors such as changes in property value, local government budgets, and school funding requirements can influence tax rates and, consequently, tax bills. For homeowners in Matawan, the tax burden can be substantial, with 25th percentile bills at $7,695 and 90th percentile bills reaching $12,758. Ownwell provides expertise in property tax appeals and exemptions, helping homeowners navigate the complexities of property tax assessments. By leveraging their knowledge and resources, Ownwell can assist homeowners in potentially reducing their property tax bills, ensuring they pay only their fair share.

Property Tax Bills Across Matawan, Monmouth County, New Jersey

Source: Ownwell

$5,432

$12,230

$19,028

Median Matawan Tax Bill

$9,715

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 Matawan, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07747	$5,599	$7,695	$9,715	$11,338	$12,758

Source: Ownwell