07305 Property Tax Rate

Property owners in ZIP code 07305 (Jersey City, New Jersey) pay a median of $6,501/year in property taxes on homes valued at $418,200. This translates to an effective tax rate of 1.55%, which is 24% below the New Jersey state average of 2.04%.

The monthly property tax burden for a median-valued home in 07305 is approximately $542, which factors into escrow payments on mortgages. This ZIP code is located within Hudson County. This is $2,096 less than the New Jersey average of $8,597/year.

Compared to similar ZIP codes in New Jersey, 07305 has lower property taxes. ZIP codes with similar effective rates include 08510 (1.55%) and 07068 (1.56%).

In Jersey City, property taxes represent approximately 8.4% of the median household income of $77,126, providing context for the relative tax burden on homeowners in this area.

New Jersey has no statewide property tax cap and assesses property at current market value; Hudson County revaluations lock in your purchase price as the assessed value, often increasing your tax bill. New Jersey's Homestead Benefit Program is available to primary residence owners earning ≤$150,000—this program can significantly reduce your tax burden by capping annual assessment increases; submit your application to Hudson County within 45 days of closing with income and residency documentation. Contact the Hudson County Assessor's office immediately to file your homestead claim and confirm your eligibility, as this relief program is essential for managing property taxes in New Jersey's high-tax environment.