Belmar, Monmouth County, New Jersey Property Taxes
Median Belmar, NJ effective property tax rate: 1.36%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Belmar, NJ home value: $515,900
Median annual Belmar, NJ tax bill: $6,744, $4,344 higher than the national median property tax bill of $2,400.
How are property taxes in Monmouth calculated?
Property taxes in Belmar, 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 Belmar’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Belmar, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Belmar, Monmouth County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.36%
Estimate Property Tax Bill
$7,016
$6,511
Property Tax Rates Across Belmar, Monmouth County, New Jersey
Local government entities set property tax rates, which can vary widely within a state. Each county annually estimates its budgetary needs for services and divides this by the total value of all taxable property in its jurisdiction to calculate the property tax rate. While votes and laws are involved in setting these rates and budgets, this is the annual process in a nutshell.
In Belmar, located in Monmouth County, the effective property tax rate is 1.36%. This rate is notably higher than the national median property tax rate of 1.02%. However, it aligns with the broader trend in New Jersey, where property tax rates tend to be above the national average. Such rates reflect the local government's budgetary requirements and the value of properties in the area. Comparing Belmar's property tax rate to other cities in New Jersey and the national median provides insight into regional tax burdens and can guide property owners in understanding their tax responsibilities.
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 Belmar Tax Rate
1.36%
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
1.86%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Belmar, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07719 | 1.13% | 1.26% | 1.36% | 1.36% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Belmar, Monmouth County, New Jersey
When examining property taxes in Belmar, 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 Belmar. For example, the median home price in Belmar is $515,900, with tax bills ranging significantly across the county. Zip code 07719 has the highest median home price at $515,900.
Property Tax Assessment Values Across Belmar, Monmouth County, New Jersey
Source: Ownwell
$230,800
$1,235,100
$2,239,400
Median Belmar Market Value
$515,900
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 Belmar, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07719 | $241,100 | $339,500 | $515,900 | $712,900 | $938,380 |
Source: Ownwell
Property Tax Bills Across Belmar, Monmouth County, New Jersey
In Belmar, located in Monmouth County, NJ, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the home's market value, which in Belmar is influenced by factors such as location, property size, and home improvements. With a median home price of $515,900, homeowners in Belmar face property tax bills that can significantly impact their finances. The median tax bill in the area is $6,744, notably higher than the national median of $2,400, reflecting the region's higher property values and tax rates.
For homeowners feeling the burden of these taxes, Ownwell offers a valuable service. By providing expert property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax liabilities. By analyzing property assessments and identifying discrepancies, Ownwell can assist in filing appeals, ensuring that homeowners are not overpaying on their property taxes. This can lead to substantial savings, offering financial relief and peace of mind for Belmar residents.
Median Belmar Tax Bill
$6,744
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 Belmar, Monmouth County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07719 | $3,231 | $4,884 | $6,744 | $9,271 | $12,567 |
Source: Ownwell