Milmay, Cumberland County, New Jersey Property Taxes
Property Taxes in Milmay, New Jersey
Median Milmay, New Jersey effective property tax rate: 2.96%, significantly higher than the national median of 1.02%, and higher than the New Jersey state median of 2.88%.
Median Milmay, New Jersey home value: $241,250
Median annual Milmay, New Jersey tax bill: $7,151, $4,751 higher than the national median property tax bill of $2,400.
How are property taxes in Cumberland calculated?
Property taxes in Milmay, 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 Milmay's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Milmay, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Milmay, Cumberland County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.96%
Estimate Property Tax Bill
$7,141
$6,627
How Does the Milmay Property Tax Calculator Work?
Use this Milmay property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Milmay's median effective tax rate of 2.96% — based on actual property records in Cumberland 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 Milmay'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 Milmay: rates are 2.96% in 08340, 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 Milmay.
About Milmay Property Taxes
About Property Taxes in Milmay, Cumberland, New Jersey
Milmay’s median effective property tax rate of 2.96% is higher than the New Jersey state median of 2.88% and higher than the national median of 1.02%. This rate reflects the Cumberland County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Milmay. Homeowners in the 08340 ZIP code carry a median effective rate of 2.96%, while those in the same ZIP code also pay 2.96%. This reflects how school district boundaries and local assessment districts are drawn across Cumberland County. Understanding which part of Milmay you live in can make a meaningful difference to your annual tax bill.
Milmay 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 Milmay, Cumberland 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 Milmay's effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.
Our median effective property tax rate (tax bill Ă· 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 Milmay Tax Rate
2.96%
Our median effective property tax rate (tax bill Ă· 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 Cumberland County Tax Rate
3.18%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Milmay, Cumberland County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08340 | 2.96% | 2.96% | 2.96% | 2.96% | 2.96% |
Source: Ownwell
Property Tax Assessment Values Across Milmay, Cumberland County, New Jersey
When examining property taxes in Milmay, 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 Cumberland 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 are sent in the spring each year and typically reach your mailbox by the middle of the month. Each property owner receives a 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 Milmay is $241,250, with a median property tax bill of $7,151. The highest median home price is in 08340 at $241,250.
Property Tax Assessment Values Across Milmay, Cumberland County, New Jersey
Source: Ownwell
$101,200
$171,225
$241,250
Median Milmay Market Value
$241,250
Median Cumberland County Market Value
$136,000
Median New Jersey Market Value
$288,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Milmay, Cumberland County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08340 | $172,820 | $202,575 | $241,250 | $299,325 | $352,070 |
Source: Ownwell
Property Tax Bills Across Milmay, Cumberland County, New Jersey
In Milmay, property tax bills are based on the assessed value of a home and the local tax rate set by taxing authorities. The bill is calculated by applying that rate to the property’s assessed market value, so homes with higher values generally face larger tax bills. Local budgets for schools, municipal services, and other public needs also influence the final amount homeowners owe.
For Milmay homeowners, the tax burden is substantial compared with the national median property tax bill of $2,400. The median home price is $241,250, and tax bills in the area often run well above the national level, with the 25th percentile at $6,004 and the 75th percentile at $8,872. The 90th percentile reaches $10,435, showing how quickly taxes can rise for higher-valued properties.
Because property taxes are tied to assessed value, changes in market conditions or local assessments can affect what homeowners pay from year to year.
Median Milmay Tax Bill
$7,151
Median Cumberland County Tax Bill
$4,582
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$2,400
Property Tax Bills Across Milmay, Cumberland County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08340 | $5,122 | $6,004 | $7,151 | $8,872 | $10,435 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 1 |
Links | |
|---|---|
| Cumberland Tax Assessor | |
| Website | taxrecords-nj.com |