Property Taxes in Millstone Township, New Jersey
Median Millstone Township, New Jersey effective property tax rate: 2.49%, significantly lower than the national median of 1.02%, and lower than the New Jersey state median of 2.88%.
Median Millstone Township, New Jersey home value: $550,800
Median annual Millstone Township, New Jersey tax bill: $13,190, higher than the national median property tax bill of $2,400.
How are property taxes in Monmouth calculated?
Property taxes in Millstone Township, 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 Millstone Township's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Millstone Township, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Millstone Township Property Tax Calculator Work?
Use this Millstone Township property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Millstone Township's median effective tax rate of 2.49% — based on actual property records in Monmouth County — to generate your estimate.
Enter your property's estimated assessed value — the figure used to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Millstone Township'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 Millstone Township: rates range from $13,133 in 08510 to $13,333 in 08535, 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 Millstone Township.
About Millstone Township Property Taxes
About Property Taxes in Millstone Township, Monmouth, New Jersey
Millstone Township's median effective property tax rate of 2.49% 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 township.
Property tax rates are not uniform across Millstone Township. Homeowners in the 08510 ZIP code carry a median effective rate of 2.49%, while those in 08510 pay 2.49%. This spread — 0.00 percentage points across the same township — reflects how school district boundaries and local assessment districts are drawn across Monmouth County. Understanding which part of Millstone Township you live in can make a meaningful difference to your annual tax bill.
Millstone Township homeowners who believe their assessed value is too high can file a formal appeal with the 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 Millstone Township, 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 Millstone Township's effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.
Property Tax Rates Across Millstone Township, Monmouth County, New Jersey
Source: Ownwell
0.41%
1.58%
2.75%
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 Millstone Township Tax Rate
2.49%
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 Millstone Township, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08510 | 2.45% | 2.48% | 2.48% | 2.49% | 2.49% |
| 08535 | 2.44% | 2.48% | 2.48% | 2.49% | 2.49% |
Source: Ownwell
Property Tax Assessment Values Across Millstone Township, Monmouth County, New Jersey
When examining property taxes in Millstone Township, 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 November each year.
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. For example, the median home price in Millstone Township is $550,800, with tax bills ranging significantly across the county. ZIP code 08535 has the highest median home price at $551,800.
Property Tax Assessment Values Across Millstone Township, Monmouth County, New Jersey
Source: Ownwell
$306,400
$1,667,525
$3,028,650
Median Millstone Township Market Value
$550,800
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 Millstone Township, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08510 | $315,440 | $404,500 | $549,000 | $668,800 | $795,320 |
| 08535 | $328,370 | $416,675 | $551,800 | $679,425 | $800,460 |
Source: Ownwell
Property Tax Bills Across Millstone Township, Monmouth County, New Jersey
How are property tax bills calculated in Millstone Township?
Property tax bills in Millstone Township are based on a home's assessed value, which is then multiplied by the local tax rate. That assessed value is tied to the market value of the property, so homes with higher values generally face higher tax bills. Local taxing authorities use the revenue to fund services such as schools, municipal operations, and county needs.
What factors affect the bill?
A homeowner’s bill depends on the property’s assessed value, the tax rate set by local governments, and any exemptions or adjustments that may apply. With a median home price of $550,800, property owners in Millstone Township often see substantial bills compared with the national median property tax bill of $2,400 and the national median property tax rate of 1.02%.
How does this affect homeowners?
The result is a wide range of annual tax bills, with the 25th percentile at $9,865, the 75th percentile at $16,430, and the 90th percentile at $19,322. Even small changes in assessed value can have a meaningful impact on what homeowners pay each year.
Property Tax Bills Across Millstone Township, Monmouth County, New Jersey
Source: Ownwell
$5,580
$12,512
$19,444
Median Millstone Township Tax Bill
$13,190
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 Millstone Township, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08510 | $7,463 | $9,703 | $13,133 | $16,298 | $19,472 |
| 08535 | $7,829 | $10,029 | $13,333 | $16,503 | $19,129 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | January 15 |
Links | |
|---|---|
| Monmouth Tax Assessor | |
| Website | oprs.co.monmouth.nj.us |