Newport, Cumberland County, New Jersey Property Taxes
Median Newport, NJ effective property tax rate: 2.76%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Newport, NJ home value: $149,082
Median annual Newport, NJ tax bill: $4,112, $1,712 higher than the national median property tax bill of $2,400.
How are property taxes in Cumberland calculated?
Property taxes in Newport, 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 Newport’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Newport, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Newport, Cumberland County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.76%
Estimate Property Tax Bill
$4,115
$3,818
Property Tax Rates Across Newport, Cumberland County, New Jersey
Local government entities in New Jersey set property tax rates, which can vary significantly across the state. Each year, Cumberland County estimates its necessary budget to fund services and divides that by the total assessed value of all taxable property within its jurisdiction. This process determines the property tax rate. Although setting tax rates and budgets involves votes and legislation, this is essentially the annual procedure.
In Newport, located within Cumberland County, the effective property tax rate stands at 2.76%. This rate is notably higher than the national median property tax rate of 1.02%. Consequently, homeowners in Newport face a higher property tax burden compared to many other regions in the United States. In comparison, the median property tax rate for New Jersey also reflects a higher-than-average rate, emphasizing the state's reputation for high property taxes. Understanding these rates can help property owners in Newport make informed decisions about property tax appeals and exemptions, potentially leading to significant savings.
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 Newport Tax Rate
2.76%
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 Cumberland County Tax Rate
2.69%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Newport, Cumberland County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08345 | 2.76% | 2.76% | 2.76% | 2.76% | 2.76% |
Source: Ownwell
Property Tax Assessment Values Across Newport, Cumberland County, New Jersey
When examining property taxes in Newport, 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 Cumberland 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 Cumberland 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 Newport. For example, the median home price in Newport is $149,082, with tax bills ranging significantly across the county. ZIP code 08345 has the highest median home price at $149,082.
Property Tax Assessment Values Across Newport, Cumberland County, New Jersey
Source: Ownwell
$113,856
$190,277
$266,697
Median Newport Market Value
$149,082
Median Cumberland County Market Value
$168,564
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Newport, Cumberland County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08345 | $61,294 | $111,200 | $149,082 | $193,702 | $236,057 |
Source: Ownwell
Property Tax Bills Across Newport, Cumberland County, New Jersey
Median Newport Tax Bill
$4,112
Median Cumberland County Tax Bill
$4,561
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Newport, Cumberland County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08345 | $1,700 | $3,037 | $4,112 | $5,355 | $6,526 |
Source: Ownwell