This is where Holmdel actually looks good compared to the other luxury towns, so let's be precise.
Holmdel's effective property-tax rate runs around 1.5% of market value, following a 2022 township-wide reassessment that reset values to full market. That's one of the more reasonable effective rates on this whole map, lower than East Brunswick, Manalapan, or Montgomery. On Staten Island a similar-value home runs closer to 0.85%, so it's still a step up, but for New Jersey, it's a genuinely competitive number.
The catch is simple math: when homes cost $1M and up, even a reasonable rate produces a big bill. Expect roughly $15,000 a year on a typical home, and the top of the market can push past $22,000. The rate isn't the problem, the price is, and that's true anywhere you buy this level of house.
What I do about it: because Holmdel reassessed recently, a new purchase can be reassessed near your sale price, so I budget your tax off the rate and the real number, not the seller's old bill. No surprises at closing.