Cliffwood, Monmouth County, New Jersey Property Taxes
Median Cliffwood, NJ effective property tax rate: 2.36%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Cliffwood, NJ home value: $275,900
Median annual Cliffwood, NJ tax bill: $6,757, $4,357 higher than the national median property tax bill of $2,400.
How are property taxes in Monmouth calculated?
Property taxes in Cliffwood, 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 Cliffwood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cliffwood, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Cliffwood, Monmouth County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.93%
Estimate Property Tax Bill
$7,487
$6,948
Property Tax Rates Across Cliffwood, Monmouth County, New Jersey
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 Cliffwood Tax Rate
1.93%
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
1.02%
Property Tax Rates Across Cliffwood, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07721 | 1.71% | 1.86% | 1.93% | 1.99% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Cliffwood, Monmouth County, New Jersey
When examining property taxes in Cliffwood, 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.
Assessment notices: 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 Cliffwood.
For example, the median home price in Cliffwood is $275,900, with tax bills ranging significantly across the county. The 07721 zip code has the highest median home price at $275,900.
Property Tax Assessment Values Across Cliffwood, Monmouth County, New Jersey
Source: Ownwell
$306,400
$1,667,525
$3,028,650
Median Cliffwood Market Value
$387,950
Median Monmouth County Market Value
$565,900
Median New Jersey Market Value
$288,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Cliffwood, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07721 | $166,100 | $282,700 | $387,950 | $476,400 | $556,500 |
Source: Ownwell
Property Tax Bills Across Cliffwood, Monmouth County, New Jersey
In Cliffwood, Monmouth County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's assessment office and is meant to reflect the property's market value. With the median home price in Cliffwood at $275,900, property tax bills can vary significantly. For instance, homeowners in the 25th percentile pay around $3,916, while those in the 75th percentile face bills of up to $8,836. Some even see tax bills as high as $10,508, indicating a substantial financial burden compared to the national median property tax bill of $2,400.
This disparity can be challenging for homeowners, but Ownwell offers a solution. By providing expert property tax appeal and exemption services, Ownwell helps homeowners potentially lower their tax bills. Our team of professionals works to ensure that properties are assessed fairly, potentially saving homeowners thousands of dollars. With Ownwell's assistance, navigating the complexities of property taxes becomes more manageable, offering peace of mind and financial relief.
Median Cliffwood Tax Bill
$7,382
Median Monmouth County Tax Bill
$9,498
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$2,400
Property Tax Bills Across Cliffwood, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07721 | $3,094 | $4,755 | $7,382 | $9,414 | $10,734 |
Source: Ownwell