Oakhurst, Monmouth County, New Jersey Property Taxes
Median Oakhurst, NJ effective property tax rate: 1.59%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Oakhurst, NJ home value: $583,300
Median annual Oakhurst, NJ tax bill: $9,351, $6,951 higher than the national median property tax bill of $2,400.
How are property taxes in Monmouth calculated?
Property taxes in Oakhurst, 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 Oakhurst’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Oakhurst, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Oakhurst, Monmouth County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.59%
Estimate Property Tax Bill
$9,274
$8,606
Property Tax Rates Across Oakhurst, Monmouth County, New Jersey
Local government entities set tax rates, which can vary widely within a state. The reason for this variance is that each county annually estimates its required budget to provide services, dividing 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.
Oakhurst in Monmouth County, NJ, has an effective property tax rate that reflects these local decisions. The median property tax rate in New Jersey is notably higher than the national median of 1.02%, making it essential for property owners to understand their local rates. By comparing Oakhurst’s rate to other cities within New Jersey and the U.S., homeowners can gain perspective on their property tax obligations. This insight is crucial for managing expenses and exploring potential tax appeal opportunities. Understanding these local variations can empower property owners to make informed decisions about property investments and financial planning.
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 Oakhurst Tax Rate
1.59%
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 Oakhurst, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07755 | 1.43% | 1.52% | 1.59% | 1.72% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Oakhurst, Monmouth County, New Jersey
When examining property taxes in Oakhurst, 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 Oakhurst.
For example, the median home price in Oakhurst is $583,300, with tax bills ranging significantly across the county. Zip code 07755 has the highest median home price at $583,300.
Property Tax Assessment Values Across Oakhurst, Monmouth County, New Jersey
Source: Ownwell
$230,800
$1,235,100
$2,239,400
Median Oakhurst Market Value
$583,300
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 Oakhurst, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07755 | $471,460 | $515,500 | $583,300 | $694,300 | $1,138,560 |
Source: Ownwell
Property Tax Bills Across Oakhurst, Monmouth County, New Jersey
In Oakhurst, NJ, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. Homeowners in Monmouth County face property tax bills that are significantly higher than the national median of $2,400, with the median tax bill here reaching $9,351. Factors such as the local tax rate and the assessed value of the property play crucial roles in determining the final tax bill. This can place a substantial financial burden on homeowners, especially when compared to the national median property tax rate of 1.02%.
Ownwell offers a solution to this challenge by providing expert property tax appeal and exemption services. By analyzing the assessed value of your home and comparing it to similar properties, Ownwell can identify potential discrepancies and file appeals on your behalf. This service can lead to significant savings, reducing the financial strain of high property taxes and ensuring homeowners are not overpaying. With Ownwell's expertise, homeowners can navigate the complexities of property tax assessments with confidence.
Median Oakhurst Tax Bill
$9,351
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 Oakhurst, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07755 | $7,244 | $8,051 | $9,351 | $11,625 | $17,117 |
Source: Ownwell