Monroe Township, Middlesex County, New Jersey Property Taxes

Name: Property Tax Bills Across Monroe Township, Middlesex County, New Jersey
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median MONROE TOWNSHIP, NJ effective property tax rate: 2.65%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median MONROE TOWNSHIP, NJ home value: $307,200
Median annual MONROE TOWNSHIP, NJ tax bill: $7,760, $5,360 higher than the national median property tax bill of $2,400.

How are property taxes in Middlesex calculated?

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

Last Updated March 1, 2025

Monroe Township, Middlesex County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.65%

Estimate Property Tax Bill

$8,141

$7,554

Ownwell’s Monroe Township Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Monroe Township with just two data points. By entering your property's estimated assessed value, our calculator applies Monroe Township’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 Middlesex County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Monroe Township, Middlesex County, New Jersey

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 Monroe Township’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S. Monroe Township in Middlesex County has a median property tax rate of 2.65%, which stands significantly higher than the national median of 1.02%. This difference highlights the tax burden faced by property owners in the area. The township's rate is also the highest and lowest within its zip code, indicating a consistent tax environment across the board. When compared to the national median property tax bill of $2400, Monroe Township's rate suggests a considerably higher financial obligation for homeowners, emphasizing the importance of understanding local property tax dynamics.

Property Tax Rates Across Monroe Township, Middlesex County, New Jersey

Source: Ownwell

1.78%

7.20%

12.62%

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 Monroe Township Tax Rate

2.65%

Median Effective Middlesex County Tax Rate

5.10%

Median Effective New Jersey Tax Rate

2.82%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Monroe Township, Middlesex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08831	2.20%	2.48%	2.65%	2.67%	2.74%

Source: Ownwell

Property Tax Assessment Values Across Monroe Township, Middlesex County, New Jersey

When examining property taxes in Monroe Township, 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 Middlesex County 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.

In Middlesex 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 Monroe Township.

For example, the median home price in Monroe Township is $307,200, with tax bills ranging significantly across the county. Zip code 08831 has the highest median home price at $307,200.

Property Tax Assessment Values Across Monroe Township, Middlesex County, New Jersey

Source: Ownwell

$66,600

$322,300

$578,000

Median Monroe Township Market Value

$307,200

Median Middlesex County Market Value

$158,000

Median New Jersey Market Value

$282,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Monroe Township, Middlesex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08831	$88,300	$141,400	$307,200	$458,600	$595,710

Source: Ownwell

Property Tax Bills Across Monroe Township, Middlesex County, New Jersey

In Monroe Township, NJ, property tax bills are determined by the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value, which can fluctuate based on real estate trends. In Monroe Township, the median property tax bill is $7,760, significantly higher than the national median of $2,400. Factors such as location, property size, and local government budgets all influence the tax rate, impacting homeowners' annual expenses. For many, these taxes represent a substantial financial burden, especially when compared to the national median property tax rate of 1.02%.

Ownwell offers a solution for homeowners looking to reduce their property tax bills. By providing expert property tax appeal services, Ownwell helps ensure that homes are assessed fairly, potentially lowering the tax burden. Our team of professionals conducts thorough evaluations and represents homeowners in appeals, striving to achieve the most favorable outcomes. This service can lead to significant savings, making homeownership more affordable in Monroe Township.

Property Tax Bills Across Monroe Township, Middlesex County, New Jersey

Source: Ownwell

$4,686

$8,118

$11,549

Median Monroe Township Tax Bill

$7,760

Median Middlesex County Tax Bill

$7,840

Median New Jersey Tax Bill

$8,227

Median United States Tax Bill

$2,400

Property Tax Bills Across Monroe Township, Middlesex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08831	$2,002	$3,550	$7,760	$12,099	$15,783

Source: Ownwell