Cream Ridge, Monmouth County, New Jersey Property Taxes

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

Median CREAM RIDGE, NJ effective property tax rate: 2.23%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median CREAM RIDGE, NJ home value: $509,650
Median annual CREAM RIDGE, NJ tax bill: $11,116, $8,716 higher than the national median property tax bill of $2,400.

How are property taxes in Monmouth calculated?

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

Last Updated March 1, 2025

Cream Ridge, Monmouth County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.14%

Estimate Property Tax Bill

$13,099

$12,155

Ownwell’s Cream Ridge Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cream Ridge with just two data points. By entering your property's estimated assessed value, our calculator applies Cream Ridge’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 Cream Ridge, Monmouth County, New Jersey

Local government entities in New Jersey set tax rates, which can vary widely within the state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction to determine the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.

In CREAM RIDGE, located in Monmouth County, the effective property tax rate is 2.23%, which is notably higher than the national median rate of 1.02%. This high tax rate reflects the local government's budgetary needs and the assessed property values within the area. Compared to other cities in New Jersey, CREAM RIDGE's rate is consistent with the state's trend of higher property tax rates.

The median property tax rate in New Jersey is 2.23%, significantly surpassing the national median. This highlights the state's reliance on property taxes to fund local services. Understanding these rates can help homeowners make informed decisions about property investments and tax appeals.

Property Tax Rates Across Cream Ridge, Monmouth County, New Jersey

Source: Ownwell

0.41%

1.58%

2.75%

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 Cream Ridge Tax Rate

2.14%

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 Cream Ridge, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08514	1.98%	2.07%	2.14%	2.16%	2.19%

Source: Ownwell

Property Tax Assessment Values Across Cream Ridge, Monmouth County, New Jersey

When examining property taxes in Cream Ridge, 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 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 Cream Ridge. For example, the median home price in Cream Ridge is $509,650, with tax bills ranging significantly across the county. 08514 has the highest median home price at $509,650.

Property Tax Assessment Values Across Cream Ridge, Monmouth County, New Jersey

Source: Ownwell

$306,400

$1,667,525

$3,028,650

Median Cream Ridge Market Value

$612,100

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 Cream Ridge, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08514	$322,670	$444,525	$612,100	$812,650	$966,190

Source: Ownwell

Property Tax Bills Across Cream Ridge, Monmouth County, New Jersey

In CREAM RIDGE, located in Monmouth County, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. With a median home price of $509,650, homeowners in this area face significantly higher tax bills than the national median. The 25th percentile tax bill is $7,899, while the 75th percentile reaches $15,256, and the 90th percentile climbs to $19,466. This variance highlights how the assessed value and tax rate can significantly impact what homeowners owe. These figures are considerably above the national median property tax bill of $2,400, making it crucial for homeowners to ensure their property is fairly assessed. Ownwell offers valuable assistance in this regard, helping property owners appeal assessments and secure exemptions, potentially reducing their tax burden. By leveraging expert knowledge and resources, Ownwell helps homeowners in CREAM RIDGE achieve substantial savings on their property tax bills.

Property Tax Bills Across Cream Ridge, Monmouth County, New Jersey

Source: Ownwell

$5,580

$12,512

$19,444

Median Cream Ridge Tax Bill

$12,727

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 Cream Ridge, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08514	$6,644	$9,355	$12,727	$17,065	$20,952

Source: Ownwell