Newark, Essex County, New Jersey Property Taxes
Median Newark, NJ effective property tax rate: 3.74%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Newark, NJ home value: $172,600
Median annual Newark, NJ tax bill: $6,497, $4,097 higher than the national median property tax bill of $2,400.
How are property taxes in Essex calculated?
Property taxes in Newark, 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 Newark’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Newark, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Newark, Essex County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.74%
Estimate Property Tax Bill
$6,455
$5,990
Property Tax Rates Across Newark, Essex County, New Jersey
Local government entities set tax rates, and these can vary significantly within a state. This is because each county annually 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.
In Newark, located in Essex County, the effective property tax rate is notably higher than the national average. Newark's median property tax rate stands at 3.74%, which is considerably above the national median property tax rate of 1.02%. This rate is also the highest and lowest within its zip code, indicating a uniformity in the tax rate across the area. The higher tax rate can lead to a significantly larger property tax bill compared to the national median of $2,400. Comparing this with other cities in New Jersey and across the U.S., Newark's property tax rate is quite substantial, making it essential for property owners to explore potential tax appeal and exemption opportunities.
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 Newark Tax Rate
3.74%
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 Essex County Tax Rate
3.51%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Newark, Essex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07102 | 3.74% | 3.74% | 3.74% | 3.74% | 3.74% |
| 07103 | 3.74% | 3.74% | 3.74% | 3.74% | 3.74% |
| 07104 | 3.74% | 3.74% | 3.74% | 3.74% | 3.74% |
| 07105 | 3.74% | 3.74% | 3.74% | 3.74% | 3.74% |
| 07106 | 3.74% | 3.74% | 3.74% | 3.74% | 3.74% |
| 07107 | 3.74% | 3.74% | 3.74% | 3.74% | 3.74% |
| 07108 | 3.74% | 3.74% | 3.74% | 3.74% | 3.74% |
| 07112 | 3.74% | 3.74% | 3.74% | 3.74% | 3.74% |
| 07114 | 3.74% | 3.74% | 3.74% | 3.74% | 3.74% |
Source: Ownwell
Property Tax Assessment Values Across Newark, Essex County, New Jersey
When examining property taxes in Newark, 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 Essex 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 Essex 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 Newark. For example, the median home price in Newark is $172,600, with tax bills ranging significantly across the county. Zip code 07105 has the highest median home price at $209,000.
Property Tax Assessment Values Across Newark, Essex County, New Jersey
Source: Ownwell
$139,900
$749,150
$1,358,400
Median Newark Market Value
$172,600
Median Essex County Market Value
$335,900
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Newark, Essex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07102 | $113,890 | $136,900 | $166,500 | $259,250 | $332,000 |
| 07103 | $89,700 | $121,300 | $154,400 | $197,675 | $253,600 |
| 07104 | $70,160 | $124,950 | $172,300 | $228,000 | $285,340 |
| 07105 | $136,450 | $171,175 | $209,000 | $270,725 | $325,250 |
| 07106 | $108,900 | $128,000 | $150,700 | $184,100 | $234,000 |
| 07107 | $110,300 | $140,600 | $171,800 | $218,000 | $269,900 |
| 07108 | $117,700 | $145,700 | $177,400 | $228,000 | $279,880 |
| 07112 | $121,960 | $148,200 | $178,400 | $218,600 | $273,720 |
| 07114 | $106,000 | $136,175 | $195,350 | $281,400 | $325,700 |
Source: Ownwell
Property Tax Bills Across Newark, Essex County, New Jersey
Median Newark Tax Bill
$6,497
Median Essex County Tax Bill
$11,297
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Newark, Essex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07102 | $3,993 | $5,044 | $6,164 | $9,549 | $12,289 |
| 07103 | $3,691 | $4,704 | $5,989 | $7,767 | $9,718 |
| 07104 | $2,582 | $4,648 | $6,437 | $8,526 | $10,663 |
| 07105 | $5,248 | $6,478 | $7,872 | $10,169 | $12,177 |
| 07106 | $4,065 | $4,771 | $5,626 | $6,870 | $8,735 |
| 07107 | $4,118 | $5,245 | $6,415 | $8,152 | $10,083 |
| 07108 | $4,344 | $5,428 | $6,624 | $8,518 | $10,453 |
| 07112 | $4,547 | $5,532 | $6,654 | $8,145 | $10,205 |
| 07114 | $3,944 | $5,066 | $7,390 | $10,580 | $12,173 |
Source: Ownwell