Ocean, Monmouth County, New Jersey Property Taxes
Property Taxes in Ocean, New Jersey
Median Ocean, New Jersey effective property tax rate: 1.45%, significantly higher than the national median of 1.02%, and lower than the New Jersey state median of 2.88%.
Median Ocean, New Jersey home value: $610,750
Median annual Ocean, New Jersey tax bill: $8,867, $6,467 higher than the national median property tax bill of $2,400.
How are property taxes in Monmouth calculated?
Property taxes in Ocean, 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 Ocean's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Ocean, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Ocean, Monmouth County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.45%
Estimate Property Tax Bill
$8,856
$8,218
How Does the Ocean Property Tax Calculator Work?
Use this Ocean property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Ocean's median effective tax rate of 1.45% — based on actual property records in Monmouth County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment system uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Ocean'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 Ocean: rates range from 1.45% in 07712 to 1.45% in 07712, 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 Ocean.
About Ocean Property Taxes
About Property Taxes in Ocean, Monmouth, New Jersey
Ocean’s median effective property tax rate of 1.45% is lower than the New Jersey state median of 2.88% and higher than the national median of 1.02%. This rate reflects the Monmouth 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 Ocean. Homeowners in the 07712 ZIP code carry a median effective rate of 1.45%, while those in the lowest ZIP also pay 1.45%. This spread is 0 percentage points across the same city, reflecting how school district boundaries and local assessment districts are drawn across Monmouth County. Understanding which part of Ocean you live in can make a meaningful difference to your annual tax bill.
Ocean homeowners who believe their assessed value is too high can file a formal appeal with the local 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 Ocean, Monmouth 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 Ocean'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 ÷ 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 Ocean Tax Rate
1.45%
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 Ocean, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07712 | 1.24% | 1.35% | 1.45% | 1.53% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Ocean, Monmouth County, New Jersey
When examining property taxes in Ocean, 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 Monmouth 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:
In Monmouth County, assessment notices are sent in November each year.
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. For Ocean, the median home price is $610,750, with a median tax bill of $8,867. That is well above the national median property tax bill of $2,400 and reflects the higher local tax burden in the area. The highest median home price is in 07712.
Property Tax Assessment Values Across Ocean, Monmouth County, New Jersey
Source: Ownwell
$306,400
$1,667,525
$3,028,650
Median Ocean Market Value
$610,750
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 Ocean, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07712 | $463,810 | $531,775 | $610,750 | $787,725 | $967,530 |
Source: Ownwell
Property Tax Bills Across Ocean, Monmouth County, New Jersey
Property tax bills in Ocean are based on the assessed value of a home and the local tax rate set by taxing authorities. When a home’s market value rises, the assessed value can also increase, which may lead to a higher bill. For a home with a median market value of $610,750, the tax bill can vary widely depending on location, exemptions, and assessment details.
In Monmouth County, the median property tax bill in Ocean is $8,867, which is well above the national median property tax bill of $2,400 and the national median property tax rate of 1.02%. Bills at the 25th percentile are $7,454, while the 75th percentile reaches $11,170 and the 90th percentile climbs to $13,477. These differences show how much property taxes can affect homeowners, especially when assessments or tax rates change.
Median Ocean Tax Bill
$8,867
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 Ocean, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07712 | $6,420 | $7,454 | $8,867 | $11,170 | $13,477 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 1 |
Links | |
|---|---|
| Monmouth Tax Assessor | |
| Website | oprs.co.monmouth.nj.us |