Roosevelt, Monmouth County, New Jersey Property Taxes

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

Median Roosevelt, NJ effective property tax rate: 2.77%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Roosevelt, NJ home value: $286,400
Median annual Roosevelt, NJ tax bill: $7,669, $5,269 higher than the national median property tax bill of $2,400.

How are property taxes in Monmouth calculated?

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

Last Updated March 1, 2025

Roosevelt, Monmouth County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.77%

Estimate Property Tax Bill

$7,933

$7,362

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

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

Local government entities set tax rates, which can vary widely within a state. 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. In Roosevelt, located in Monmouth County, the effective property tax rate is notably higher than both the state and national medians. With New Jersey's median property tax rate significantly exceeding the national median, property owners in this region face some of the highest property tax burdens in the country. This can be attributed to New Jersey's commitment to funding public services and education, which often results in higher property tax rates. Comparing Roosevelt's rate to other cities in the state can highlight the range of property tax experiences within New Jersey. Understanding these differences is crucial for property owners looking to manage their tax liabilities effectively.

Property Tax Rates Across Roosevelt, 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 Roosevelt Tax Rate

2.77%

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 Roosevelt, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08555	2.50%	2.67%	2.77%	2.81%	2.87%

Source: Ownwell

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

When examining property taxes in Roosevelt, 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. Monmouth County's 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 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 March. 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 Roosevelt.

For example, the median home price in Roosevelt is $286,400, with tax bills ranging significantly across the county. Zip code 08555 has the highest median home price at $286,400.

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

Source: Ownwell

$230,800

$1,235,100

$2,239,400

Median Roosevelt Market Value

$286,400

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 Roosevelt, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08555	$206,240	$237,200	$286,400	$345,600	$418,160

Source: Ownwell

Property Tax Bills Across Roosevelt, Monmouth County, New Jersey

In Roosevelt, located in Monmouth County, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The tax rate in this area is significantly higher than the national median, leading to substantial tax bills for homeowners. For instance, the median property tax bill in Roosevelt is $7,669, which is well above the national median of $2,400. This means homeowners in Roosevelt face a considerable financial burden, with tax bills ranging from $6,564 at the 25th percentile to $10,973 at the 90th percentile. These figures highlight the importance of ensuring your property is accurately assessed to avoid overpaying. Ownwell offers expert property tax appeal services, helping homeowners potentially reduce their tax bills by challenging inaccurate assessments. By leveraging local market data and expert knowledge, Ownwell aims to secure significant savings for homeowners, alleviating some of the financial pressure associated with high property taxes in Roosevelt.

Property Tax Bills Across Roosevelt, Monmouth County, New Jersey

Source: Ownwell

$5,432

$12,230

$19,028

Median Roosevelt Tax Bill

$7,669

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 Roosevelt, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08555	$5,890	$6,564	$7,669	$9,253	$10,973

Source: Ownwell