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County tax profile · 2026 · Census ACS + IRS data

Property Tax & Income in Monmouth County, New Jersey

Monmouth County has an effective property tax rate of 1.65%. On the median home value of $606,100, that's roughly $10,001 per year. Median household income is $124,845.

Effective Property Tax Rate1
1.65%
median tax $10,001 ÷ median home $606,100
Median Home Value1
$606,100
owner-occupied
Median Household Income1
$124,845
per-capita $66,696
Est. Annual Tax on Median Home1
$10,001
at 1.65% effective rate

What you'll pay, at a glance

Property taxes are the largest local tax most homeowners pay. The effective rate measures the real tax bill as a share of home value — a more useful number than the nominal “mill rate,” because assessment practices vary county to county.

MetricMonmouth CountyNew Jersey (state context)
Effective property tax rate11.65%2.10%
Median home value1$606,100—
State income tax3top rate 10.75%top rate 10.75%
State sales tax36.60% combined6.60% combined

How this is calculated

The effective property tax rate is the median real-estate tax bill divided by the median home value — both for owner-occupied homes, from the U.S. Census Bureau's American Community Survey (ACS 5-year estimates)1. Median income is also from the ACS1. Federal and state income-tax figures use IRS2 and Tax Foundation3 data.

About Monmouth County, NJ

For anyone weighing a move to Monmouth County, the tax picture is mixed but leans favorable. The median home value sits at $606,100, and the annual real-estate tax bill on that property comes to $10,001 — an effective rate of 1.650%. That's well under New Jersey's statewide median of 2.098%, though it ranks 18th out of the state's 21 counties, so buyers here pay less than most Garden State neighbors. Nationally, the gap runs the other way: the U.S. median rate is 0.794%, meaning Monmouth taxes run roughly double the countrywide figure. Households earning the median $124,845 would devote about 8% of income to property taxes, a share that stays workable given per-capita income of $66,696. Towns like Red Bank, Shrewsbury, and Millstone Township anchor the county, offering buyers higher home prices offset by comparatively gentler tax rates.

Frequently asked questions

What is the property tax rate in Monmouth County, NJ?
The effective rate is 1.65% — meaning the median tax bill equals about 1.65% of the median home value.
How much are property taxes on a median home?
On the median home ($606,100), the estimated annual bill is about $10,001.
Is Monmouth County's rate high or low?
Compare it to the state median of 2.10% and the national average near 1.1%.
How does the effective rate differ from my mill rate?
A mill rate is the nominal levy per $1,000 of assessed value. The effective rate reflects what you actually pay after exemptions and assessments — it's the median tax bill as a share of median home value, so it better predicts your real cost.
Will a reassessment raise my tax bill?
Not necessarily. If your home's assessed value rises, your bill can go up, but only if the mill rate and exemptions stay flat. Contact the Monmouth County assessor's office to review your current assessment.
Can I appeal my property tax assessment?
Yes. Most counties allow an appeal when you believe the assessed value exceeds the market value. File with the Monmouth County assessor within the local deadline, typically with comparable sales as evidence.
Sources
[1] U.S. Census Bureau — ACS 5-Year (2023) — Median home value (B25077), median real-estate taxes (B25103), median household income (B19013), per-capita income (B19301).
[2] IRS — Statistics of Income — County income, AGI, and real-estate taxes paid.
[3] Tax Foundation — State income, sales, corporate, and estate/inheritance tax rates.