07203 Property Tax Rate

Property owners in ZIP code 07203 (Roselle, New Jersey) pay a median of $10,001/year in property taxes on homes valued at $336,500. This translates to an effective tax rate of 2.97%, which is 45% above the New Jersey state average of 2.04%.

The monthly property tax burden for a median-valued home in 07203 is approximately $833, which factors into escrow payments on mortgages. This ZIP code is located within Union County. This is $1,404 more than the New Jersey average of $8,597/year.

Compared to similar ZIP codes in New Jersey, 07203 has lower property taxes. ZIP codes with similar effective rates include 07050 (2.97%) and 08341 (2.97%).

In Roselle, property taxes represent approximately 12.1% of the median household income of $82,967, providing context for the relative tax burden on homeowners in this area.

New Jersey has no statewide property tax cap; Union County assessments are set locally and reassess at sale with no guaranteed cap on future increases. Eligible homeowners earning ≤$150,000 (or ≤$75,000 if senior or disabled) may qualify for the Homestead Benefit Program — submit your application to the Union County Tax Board by June 1 each year. File a declaration of principal residence with the Union County Assessor's office within 30 days of purchase to lock in your baseline assessment value.