Allentown, Monmouth County, New Jersey Property Taxes

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

Median Allentown, NJ effective property tax rate: 2.25%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Allentown, NJ home value: $441,100
Median annual Allentown, NJ tax bill: $10,515, $8,115 higher than the national median property tax bill of $2,400.

How are property taxes in Monmouth calculated?

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

Last Updated March 1, 2025

Allentown, Monmouth County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.25%

Estimate Property Tax Bill

$9,925

$9,210

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

Local government entities are responsible for setting property tax rates, which can significantly differ across New Jersey. This variation occurs because each county, including Monmouth, annually estimates its budgetary needs for essential services and divides this by the total assessed value of all taxable properties within its boundaries. This process determines the property tax rate for the year. Although laws and public votes are part of the process, this is the simplified version of how property taxes are determined each year.

In Allentown, located in Monmouth County, the effective property tax rate is notably higher than the national median of 1.02%. This rate reflects the local government's approach to meeting its budgetary requirements. When compared to other cities in New Jersey and the national average, Allentown's property tax rate stands out. It’s important for property owners in Allentown to be aware of these rates, as they directly impact their annual tax bills, which tend to be higher than the national median of $2,400. Understanding these rates can help residents make informed decisions regarding their property investments and potential tax appeals.

Property Tax Rates Across Allentown, Monmouth County, New Jersey

Source: Ownwell

0.60%

1.69%

2.77%

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 Allentown Tax Rate

2.25%

Median Effective Monmouth County Tax Rate

1.86%

Median Effective New Jersey Tax Rate

2.82%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Allentown, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08501	2.07%	2.18%	2.25%	2.92%	3.03%

Source: Ownwell

Property Tax Assessment Values Across Allentown, Monmouth County, New Jersey

When examining property taxes in Allentown, 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. Assessment notices: 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 Allentown. For example, the median home price in Allentown is $441,100, with tax bills ranging significantly across the county. 08501 has the highest median home price at $441,100.

Property Tax Assessment Values Across Allentown, Monmouth County, New Jersey

Source: Ownwell

$230,800

$1,235,100

$2,239,400

Median Allentown Market Value

$441,100

Median Monmouth County Market Value

$467,900

Median New Jersey Market Value

$282,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Allentown, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08501	$234,240	$317,250	$441,100	$615,250	$737,500

Source: Ownwell

Property Tax Bills Across Allentown, Monmouth County, New Jersey

In Allentown, Monmouth County, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. With a median home price of $441,100, homeowners in this area face significant tax bills. The 25th percentile tax bill is $8,113, while the 75th percentile reaches $13,735, and the top 10% see bills as high as $16,285. This is notably above the national median property tax bill of $2,400 and the national median tax rate of 1.02%.

High property tax bills can place a heavy financial burden on homeowners. This is where Ownwell comes in. Ownwell helps homeowners by providing property tax appeal and exemption services, potentially lowering their tax obligations. By analyzing individual property assessments and market conditions, Ownwell identifies opportunities for tax reductions, helping homeowners save money and alleviate the financial pressure of high property taxes.

Property Tax Bills Across Allentown, Monmouth County, New Jersey

Source: Ownwell

$5,432

$12,230

$19,028

Median Allentown Tax Bill

$10,515

Median Monmouth County Tax Bill

$8,714

Median New Jersey Tax Bill

$8,227

Median United States Tax Bill

$2,400

Property Tax Bills Across Allentown, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08501	$6,391	$8,113	$10,515	$13,735	$16,285

Source: Ownwell