Holmdel, New Jersey Property Taxes
The median property tax rate in Holmdel, NJ is 1.80%, considerably higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Holmdel at $735,950, the typical annual property tax bill reaches $13,013, exceeding the national median of $2,690. Property taxes in Holmdel are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Holmdel's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Holmdel or another part of Monmouth County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Holmdel, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$13,247
Ownwell’s Holmdel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holmdel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holmdel to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Holmdel, New Jersey
Property taxes in Holmdel, New Jersey, play a crucial role in financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holmdel is 1.80%, significantly higher than the U.S. national median of 0.99%. Local government entities within Holmdel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holmdel estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Holmdel's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 07733 has the highest median property tax rate of 1.80%, while the lowest median tax rate is also 1.80%. Understanding how these cities compare with Holmdel provides valuable insights into the varying tax landscape across Monmouth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holmdel Tax Rate
1.80%
Average Monmouth County Tax Rate
1.86%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holmdel, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07733 | 1.65% | 1.73% | 1.80% | 1.86% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Holmdel, New Jersey
In Holmdel, New Jersey, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Monmouth County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Holmdel, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. The median home price in Holmdel is $735,950, with tax bills ranging widely. The 25th percentile tax bill is $9,228, while the 75th percentile reaches $16,535. The 90th percentile tax bill can be as high as $21,400. Notably, the highest and lowest median tax bills are both $13,013 in zip code 07733. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Holmdel, New Jersey
Source: Ownwell
$214,800
$1,639,900
$3,065,000
Average Holmdel Assessed Value
$735,950
Average Monmouth County Assessed Value
$467,900
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holmdel, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07733 | $402,800 | $537,125 | $735,950 | $961,225 | $1,209,620 |
Source: Ownwell
Property Tax Bills Across Holmdel, New Jersey
In Holmdel, 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 Monmouth County tax assessor and reflects a percentage of the property's market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any improvements made. For instance, a home with a median market price of $735,950 can see tax bills ranging from $9,228 at the 25th percentile to $21,400 at the 90th percentile. Holmdel's highest median tax bill stands at $13,013 in the 07733 zip code, which is significantly higher than the national median property tax rate of 0.99%. High property taxes can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and influencing decisions about buying or selling property in the area.
Average Holmdel Tax Bill
$13,013
Average Monmouth County Tax Bill
$8,714
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Holmdel, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07733 | $6,964 | $9,228 | $13,013 | $16,535 | $21,400 |
Source: Ownwell