Neptune, Monmouth County, New Jersey Property Taxes
Median Neptune, NJ effective property tax rate: 1.81%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Neptune, NJ home value: $359,500
Median annual Neptune, NJ tax bill: $6,428, $4,028 higher than the national median property tax bill of $2,400.
How are property taxes in Monmouth calculated?
Property taxes in Neptune, 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 Neptune’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Neptune, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Neptune, Monmouth County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.81%
Estimate Property Tax Bill
$6,507
$6,038
Property Tax Rates Across Neptune, Monmouth County, New Jersey
Local government entities determine property tax rates, which can significantly differ across a state. This variation occurs because each county, including Monmouth County, calculates its necessary budget to fund services and then divides that by the total value of all taxable properties within its borders. This method establishes the property tax rate. Though the process involves votes and legislation, this is essentially how it unfolds annually.
In Neptune, located in Monmouth County, the effective property tax rate stands out when compared to other cities in New Jersey. With a median property tax rate of 1.81%, Neptune's rate is notably higher than the national median of 1.02%. This difference highlights the diverse property tax landscape across the United States. While Neptune's rate is among the highest in the state, it mirrors the county's overall tax framework. Understanding these rates is crucial for property owners aiming to manage their tax liabilities effectively. By staying informed, homeowners can navigate the complexities of property taxation and potentially identify opportunities for tax appeals or exemptions.
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 Neptune Tax Rate
1.81%
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
1.86%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Neptune, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07753 | 1.55% | 1.67% | 1.81% | 1.91% | 2.03% |
Source: Ownwell
Property Tax Assessment Values Across Neptune, Monmouth County, New Jersey
When examining property taxes in Neptune, 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 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 Neptune.
For example, the median home price in Neptune is $359,500, with tax bills ranging significantly across the county. The zip code 07753 has the highest median home price at $359,500.
Property Tax Assessment Values Across Neptune, Monmouth County, New Jersey
Source: Ownwell
$230,800
$1,235,100
$2,239,400
Median Neptune Market Value
$359,500
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 Neptune, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07753 | $247,410 | $300,500 | $359,500 | $429,975 | $508,290 |
Source: Ownwell
Property Tax Bills Across Neptune, Monmouth County, New Jersey
In Neptune, located in Monmouth County, NJ, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Neptune's property tax rate is influenced by local government budgets, school funding, and public services. The median home price in Neptune is $359,500, and homeowners face a median property tax bill of $6,428, significantly higher than the national median of $2,400. This hefty bill can be a financial burden for many homeowners, with tax bills ranging from $5,209 at the 25th percentile to $9,481 at the 90th percentile.
Ownwell offers a solution by providing property tax appeal services, potentially reducing the assessed value of homes and thus lowering tax bills. By analyzing property assessments and market data, Ownwell identifies opportunities for savings and guides homeowners through the appeals process. This service can result in substantial savings, easing the financial pressure on Neptune homeowners and ensuring they pay only their fair share in property taxes.
Median Neptune Tax Bill
$6,428
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 Neptune, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07753 | $4,211 | $5,209 | $6,428 | $7,951 | $9,481 |
Source: Ownwell