North Middletown, Monmouth County, New Jersey Property Taxes
Median North Middletown, NJ effective property tax rate: 1.70%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median North Middletown, NJ home value: $332,900
Median annual North Middletown, NJ tax bill: $5,581, $3,181 higher than the national median property tax bill of $2,400.
How are property taxes in Monmouth calculated?
Property taxes in North Middletown, 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 North Middletown’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in North Middletown, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
North Middletown, 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
$6,533
$6,063
Property Tax Rates Across North Middletown, Monmouth County, New Jersey
Local government entities determine property tax rates, which can differ significantly within a state. Each year, counties calculate their necessary budgets for public services and divide this by the total value of all taxable properties in their area, resulting in the property tax rate. While the process involves votes and legislation, this is the essence of how rates are set annually.
In North Middletown, located in Monmouth County, the effective property tax rate is 1.70%. This rate is notably higher than the national median property tax rate of 1.02%. The median property tax rate in New Jersey aligns with North Middletown’s rate, reflecting the state's generally high property taxes. Comparatively, the national median property tax bill is around $2,400, illustrating the substantial difference in property tax burdens.
Understanding these rates is crucial for property owners considering tax appeals or seeking exemptions, as the financial impact can be significant. By staying informed, residents can better navigate the complexities of property taxes and potentially reduce their tax liabilities.
Property Tax Rates Across North Middletown, 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 North Middletown 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
1.64%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across North Middletown, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07748 | 1.40% | 1.48% | 1.59% | 1.66% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across North Middletown, Monmouth County, New Jersey
When examining property taxes in North Middletown, 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 North Middletown. For example, the median home price in North Middletown is $332,900, with tax bills ranging significantly across the county. Zip code 07748 has the highest median home price at $332,900.
Property Tax Assessment Values Across North Middletown, Monmouth County, New Jersey
Source: Ownwell
$306,400
$1,667,525
$3,028,650
Median North Middletown Market Value
$410,900
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 North Middletown, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07748 | $281,600 | $332,950 | $410,900 | $497,500 | $589,200 |
Source: Ownwell
Property Tax Bills Across North Middletown, Monmouth County, New Jersey
In North Middletown, NJ, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Monmouth County, the median property tax bill stands at $5,581, significantly higher than the national median property tax bill of $2,400. Factors such as property improvements, market conditions, and local budget needs can influence the assessed value, impacting the tax bill. For homeowners, this can mean a substantial financial burden, especially when the tax bill falls in the upper percentiles, with the 90th percentile reaching $8,587.
Ownwell offers a solution by providing property tax appeal and exemption services. By analyzing the property's assessed value and comparing it with market trends, Ownwell identifies opportunities for reducing the tax burden. This can result in significant savings for homeowners, ensuring they only pay their fair share in property taxes.
Property Tax Bills Across North Middletown, Monmouth County, New Jersey
Source: Ownwell
$5,580
$12,512
$19,444
Median North Middletown Tax Bill
$6,369
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 North Middletown, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07748 | $4,269 | $5,038 | $6,369 | $8,071 | $9,467 |
Source: Ownwell