Freehold, Ocean County, New Jersey Property Taxes

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

Median Freehold, NJ effective property tax rate: 2.58%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%. Median Freehold, NJ home value: $570,100. Median annual Freehold, NJ tax bill: $14,726, $12,326 higher than the national median property tax bill of $2,400.

How are property taxes in Ocean County calculated?

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

Last Updated March 1, 2025

Freehold, Ocean County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.58%

Estimate Property Tax Bill

$14,709

$13,649

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

Property Tax Rates Across Freehold, Ocean County, New Jersey

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services annually 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, this is the annual process. In Freehold, located in Ocean County, NJ, the effective property tax rate is higher than the national median of 1.02%. This rate reflects the county's budgetary needs and the total value of its taxable properties. When compared to other cities in New Jersey, Freehold's property tax rate is aligned with the state's median rate, which is notably higher than the national average. This indicates a consistent trend across the state, where property tax rates tend to surpass national figures. Understanding these rates is crucial for property owners seeking to manage their expenses and explore potential savings through tax appeals or exemptions.

Property Tax Rates Across Freehold, Ocean County, New Jersey

Source: Ownwell

0.83%

2.04%

3.25%

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 Freehold Tax Rate

2.58%

Median Effective Ocean County Tax Rate

2.26%

Median Effective New Jersey Tax Rate

2.82%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Freehold, Ocean County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07728	2.58%	2.58%	2.58%	2.58%	2.60%

Source: Ownwell

Property Tax Assessment Values Across Freehold, Ocean County, New Jersey

When examining property taxes in Freehold, 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 Ocean 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 Ocean 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 Freehold. For example, the median home price in Freehold is $570,100, with tax bills ranging significantly across the county. Zip code 07728 has the highest median home price at $570,100.

Property Tax Assessment Values Across Freehold, Ocean County, New Jersey

Source: Ownwell

$88,700

$589,800

$1,090,900

Median Freehold Market Value

$570,100

Median Ocean County Market Value

$281,800

Median New Jersey Market Value

$282,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Freehold, Ocean County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07728	$492,220	$509,250	$570,100	$615,500	$637,060

Source: Ownwell

Property Tax Bills Across Freehold, Ocean County, New Jersey

In Freehold, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. With a median home price of $570,100, homeowners in this area face significant tax bills. The typical property tax bill in Freehold is $14,726, which is considerably higher than the national median property tax bill of $2,400. This high tax burden results from both the high property values and the elevated tax rates in the region.

Homeowners in Freehold can see their tax bills vary significantly, with the 25th percentile at $12,972, the 75th percentile at $15,898, and the 90th percentile reaching $16,606. These figures highlight the substantial impact property taxes can have on household finances. Fortunately, Ownwell provides valuable assistance to homeowners by offering property tax appeal and exemption services. By leveraging their expertise, homeowners can potentially lower their tax bills, ensuring they pay only their fair share and alleviating some of the financial pressures associated with high property taxes.

Property Tax Bills Across Freehold, Ocean County, New Jersey

Source: Ownwell

$1,922

$9,935

$17,948

Median Freehold Tax Bill

$14,726

Median Ocean County Tax Bill

$5,983

Median New Jersey Tax Bill

$8,227

Median United States Tax Bill

$2,400

Property Tax Bills Across Freehold, Ocean County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07728	$12,655	$12,972	$14,726	$15,898	$16,606

Source: Ownwell