07461 Property Tax Rate

Property owners in ZIP code 07461 (Sussex, New Jersey) pay a median of $8,003/year in property taxes on homes valued at $338,500. This translates to an effective tax rate of 2.36%, which is 16% above the New Jersey state average of 2.04%.

The monthly property tax burden for a median-valued home in 07461 is approximately $667, which factors into escrow payments on mortgages. This ZIP code is located within Sussex County. This is $594 less than the New Jersey average of $8,597/year.

Compared to similar ZIP codes in New Jersey, 07461 has higher property taxes. ZIP codes with similar effective rates include 07843 (2.36%) and 08019 (2.37%).

In Sussex, property taxes represent approximately 7.7% of the median household income of $104,441, providing context for the relative tax burden on homeowners in this area.

New Jersey has no statewide property tax cap; Sussex County assessments may rise annually with no state-mandated limit, and your property will be reassessed at current market value if you sell. The Homestead Benefit Program provides relief for primary residences owned by households earning ≤$150,000 (or ≤$75,000 for seniors and disabled applicants) — apply to the Sussex County Tax Board by June 1. File your homeowner declaration with the Sussex County Assessor within 30 days of closing to establish documentation of principal residence.