Middletown, Monmouth County, New Jersey Property Taxes

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

Median MIDDLETOWN, NJ effective property tax rate: 1.86%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median MIDDLETOWN, NJ home value: $517,700
Median annual MIDDLETOWN, NJ tax bill: $9,525, $7,125 higher than the national median property tax bill of $2,400.

How are property taxes in Monmouth calculated?

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

Last Updated March 1, 2025

Middletown, Monmouth County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.86%

Estimate Property Tax Bill

$9,629

$8,936

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

Property Tax Rates Across Middletown, Monmouth County, New Jersey

Local government entities in New Jersey set tax rates, which can vary widely within the state. This is because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is the annual process in a nutshell. In Middletown, located in Monmouth County, the effective property tax rate stands at 1.86%, which is significantly higher than the national median property tax rate of 1.02%. This means property owners in Middletown generally pay more in property taxes compared to the average U.S. homeowner. The median property tax rate in New Jersey also reflects this trend, as it is one of the highest in the nation. Comparing Middletown's rate to other cities within New Jersey, it aligns with the state’s overall high property tax rates, emphasizing the importance of understanding local tax assessments and potential opportunities for appealing or reducing property taxes.

Property Tax Rates Across Middletown, 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 Middletown Tax Rate

1.86%

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 Middletown, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07748	1.69%	1.78%	1.86%	1.91%	1.95%

Source: Ownwell

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

When examining property taxes in Middletown, 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 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 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 Middletown. For example, the median home price in Middletown is $517,700, with tax bills ranging significantly across the county. 07748 has the highest median home price at $517,700.

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

Source: Ownwell

$230,800

$1,235,100

$2,239,400

Median Middletown Market Value

$517,700

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 Middletown, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07748	$341,580	$417,600	$517,700	$655,850	$787,800

Source: Ownwell

Property Tax Bills Across Middletown, Monmouth County, New Jersey

In Middletown, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the property tax rate to determine the annual tax bill. The median home price here is $517,700, which contributes to a significantly high median property tax bill of $9,525, well above the national median of $2,400. Factors such as property size, location, and improvements can affect the assessed value, impacting the overall tax bill. Homeowners in Middletown face tax bills ranging from the 25th percentile at $7,694 to the 90th percentile reaching $14,781. These high property taxes can be a financial burden for many homeowners. Ownwell offers services to help homeowners appeal their property tax assessments and file for exemptions, potentially lowering their tax bills. By leveraging expert knowledge and experience, Ownwell can assist homeowners in navigating the complex property tax system, ultimately leading to significant savings.

Property Tax Bills Across Middletown, Monmouth County, New Jersey

Source: Ownwell

$5,432

$12,230

$19,028

Median Middletown Tax Bill

$9,525

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 Middletown, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07748	$6,422	$7,694	$9,525	$12,224	$14,781

Source: Ownwell