Ocean Grove, Monmouth County, New Jersey Property Taxes

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

Median Ocean Grove, NJ effective property tax rate: 1.79%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Ocean Grove, NJ home value: $630,900
Median annual Ocean Grove, NJ tax bill: $11,153, $8,753 higher than the national median property tax bill of $2,400.

How are property taxes in Monmouth County calculated?

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

Last Updated March 1, 2025

Ocean Grove, Monmouth County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.79%

Estimate Property Tax Bill

$11,293

$10,480

Ownwell’s Ocean Grove Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Ocean Grove with just two data points. By entering your property's estimated assessed value, our calculator applies Ocean Grove’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value—determined by Monmouth 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 Ocean Grove, Monmouth County, New Jersey

Local government entities set tax rates, which can vary widely within a state. 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 Ocean Grove’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.

Ocean Grove, located in Monmouth County, has a median property tax rate of 1.79%. This rate stands significantly above the national median of 1.02%, reflecting the higher property tax burden within the region. Property owners in Ocean Grove face one of the highest median property tax rates in the area, as evidenced by the uniformity of the rate across its zip code. Compared to the national median property tax bill of $2,400, the tax burden here is notably higher, underscoring the importance of exploring property tax appeal and exemption services to alleviate financial pressures.

Property Tax Rates Across Ocean Grove, 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 Ocean Grove Tax Rate

1.79%

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 Ocean Grove, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07756	1.66%	1.70%	1.79%	1.90%	2.04%

Source: Ownwell

Property Tax Assessment Values Across Ocean Grove, Monmouth County, New Jersey

When examining property taxes in Ocean Grove, 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 Ocean Grove. For example, the median home price in Ocean Grove is $630,900, with tax bills ranging significantly across the county. 07756 has the highest median home price at $630,900.

Property Tax Assessment Values Across Ocean Grove, Monmouth County, New Jersey

Source: Ownwell

$230,800

$1,235,100

$2,239,400

Median Ocean Grove Market Value

$630,900

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 Ocean Grove, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07756	$375,000	$504,600	$630,900	$769,100	$952,540

Source: Ownwell

Property Tax Bills Across Ocean Grove, Monmouth County, New Jersey

In Ocean Grove, NJ, property tax bills are determined by the assessed value of a home and the local tax rate. With a median home price of $630,900, homeowners in Monmouth County face a significant tax burden. The median property tax bill in this area is $11,153, which is well above the national median of $2,400. This high tax bill results from a combination of high property values and tax rates. Homeowners in Ocean Grove can expect tax bills ranging from $9,007 at the 25th percentile to $17,621 at the 90th percentile, reflecting the area's premium real estate market. These factors can significantly impact homeowners' finances, making it essential to explore potential savings. Ownwell assists homeowners by reviewing property assessments and identifying opportunities for appeals or exemptions. By leveraging expertise and local knowledge, Ownwell can help reduce property tax bills, ensuring homeowners are not overpaying and can enjoy financial relief.

Property Tax Bills Across Ocean Grove, Monmouth County, New Jersey

Source: Ownwell

$5,432

$12,230

$19,028

Median Ocean Grove Tax Bill

$11,153

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 Ocean Grove, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07756	$6,663	$9,007	$11,153	$14,128	$17,621

Source: Ownwell