07020 Property Tax Rate

Property owners in ZIP code 07020 (Edgewater, New Jersey) pay a median of $10,001/year in property taxes on homes valued at $723,400. This translates to an effective tax rate of 1.38%, which is 32% below the New Jersey state average of 2.04%.

The monthly property tax burden for a median-valued home in 07020 is approximately $833, which factors into escrow payments on mortgages. This ZIP code is located within Bergen County. This is $1,404 more than the New Jersey average of $8,597/year.

Compared to similar ZIP codes in New Jersey, 07020 has higher property taxes. ZIP codes with similar effective rates include 08540 (1.38%) and 07028 (1.38%).

In Edgewater, property taxes represent approximately 7.3% of the median household income of $137,847, providing context for the relative tax burden on homeowners in this area.

New Jersey has no statewide property tax cap; Bergen County assessments are set locally and may increase annually without limit upon sale. The Homestead Benefit Program provides property tax relief for eligible homeowners earning ≤$150,000 (or ≤$75,000 if senior or disabled) — apply through the Bergen County Tax Board before the June 1 deadline. Contact the Bergen County Assessor's office immediately after purchase to confirm your assessment and eligibility for relief programs.