Wall Township, Monmouth County, New Jersey Property Taxes

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

Median Wall Township, NJ effective property tax rate: 2.01%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Wall Township, NJ home value: $383,200
Median annual Wall Township, NJ tax bill: $7,557, $5,157 higher than the national median property tax bill of $2,400.

How are property taxes in Monmouth calculated?

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

Last Updated March 1, 2025

Wall Township, Monmouth County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.01%

Estimate Property Tax Bill

$7,702

$7,148

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

Property Tax Rates Across Wall Township, 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 Wall 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.

Wall Township, located in Monmouth County, has an effective property tax rate of 2.01%. This rate is notably higher than the national median property tax rate of 1.02%, reflecting the state's trend of higher property tax rates. The median property tax bill in Wall Township also surpasses the national median of $2,400, highlighting the higher costs associated with property ownership in this area. This can be attributed to the county's budgetary needs and the overall value of taxable property. Understanding these dynamics is crucial for property owners looking to manage their tax liabilities effectively.

Property Tax Rates Across Wall Township, 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 Wall Township Tax Rate

2.01%

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 Wall Township, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07719	1.85%	1.97%	2.01%	2.01%	2.02%
07727	1.82%	1.93%	2.01%	2.01%	2.01%
07731	1.92%	2.00%	2.00%	2.00%	2.00%
07753	1.87%	2.01%	2.01%	2.01%	2.01%
08724	1.89%	2.00%	2.00%	2.00%	2.00%

Source: Ownwell

Property Tax Assessment Values Across Wall Township, Monmouth County, New Jersey

When examining property taxes in Wall 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 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: Monmouth County sends assessment notices in the spring each year, typically reaching your mailbox by mid-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 Wall Township. For example, the median home price in Wall Township is $383,200, with tax bills ranging significantly across the county. Zip code 08724 has the highest median home price at $594,500.

Property Tax Assessment Values Across Wall Township, Monmouth County, New Jersey

Source: Ownwell

$230,800

$1,235,100

$2,239,400

Median Wall Township Market Value

$383,200

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 Wall Township, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07719	$264,370	$302,525	$374,900	$511,675	$672,330
07727	$267,360	$325,100	$398,800	$512,200	$649,960
07731	$433,650	$515,875	$546,700	$665,575	$778,920
07753	$360,000	$404,600	$538,500	$709,850	$882,600
08724	$392,900	$464,400	$594,500	$679,400	$858,380

Source: Ownwell

Property Tax Bills Across Wall Township, Monmouth County, New Jersey

In Wall Township, NJ, property tax bills are determined by the assessed value of a home and the local tax rate. With a median home price of $383,200, Wall Township homeowners face property tax bills that can range significantly. In Monmouth County, where Wall Township is located, the tax bill at the 25th percentile is $6,021, while the 75th percentile sees bills as high as $10,526. The 90th percentile can reach up to $13,719. This is notably higher than the national median property tax bill of $2,400. Factors such as local government budgets, school funding, and public services influence these rates, impacting homeowners by increasing their annual financial obligations. Ownwell steps in to assist homeowners in potentially reducing these burdens. By leveraging expert knowledge of local tax codes and conducting thorough property assessments, Ownwell identifies opportunities for appeals or exemptions, helping homeowners save on their property tax bills and ensuring they're not overpaying compared to their home's assessed value.

Property Tax Bills Across Wall Township, Monmouth County, New Jersey

Source: Ownwell

$5,432

$12,230

$19,028

Median Wall Township Tax Bill

$7,557

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 Wall Township, Monmouth County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07719	$5,122	$5,929	$7,378	$10,143	$13,371
07727	$4,861	$6,088	$7,560	$10,198	$13,045
07731	$8,660	$10,156	$11,179	$13,292	$15,555
07753	$7,121	$8,022	$10,788	$14,376	$17,519
08724	$7,846	$9,274	$11,872	$13,568	$16,715

Source: Ownwell