07001 Property Tax Rate

Property owners in ZIP code 07001 (Avenel, New Jersey) pay a median of $8,690/year in property taxes on homes valued at $351,200. This translates to an effective tax rate of 2.47%, which is 21% above the New Jersey state average of 2.04%.

The monthly property tax burden for a median-valued home in 07001 is approximately $724, which factors into escrow payments on mortgages. This ZIP code is located within Middlesex County.

Compared to similar ZIP codes in New Jersey, 07001 has lower property taxes. ZIP codes with similar effective rates include 08104 (2.48%) and 07865 (2.48%).

In Avenel, property taxes represent approximately 9.1% of the median household income of $95,935, providing context for the relative tax burden on homeowners in this area.

New Jersey has no statewide property tax cap and assesses property at full market value; Middlesex County revaluations reset assessed value to current market conditions, so your purchase price will likely become your new assessment. New Jersey's Homestead Benefit Program—available to primary residence owners earning ≤$150,000 per year—can save eligible homeowners $500–$1,200 annually by capping assessment increases; apply through Middlesex County within 45 days of closing with proof of income and residency. Contact the Middlesex County Assessor's office immediately after purchase to register your homestead claim and verify your eligibility for this critical property tax relief program.