07721 Property Tax Rate

Property owners in ZIP code 07721 (Cliffwood, New Jersey) pay a median of $8,491/year in property taxes on homes valued at $387,500. This translates to an effective tax rate of 2.19%, which is 7% above the New Jersey state average of 2.04%.

The monthly property tax burden for a median-valued home in 07721 is approximately $708, which factors into escrow payments on mortgages. This ZIP code is located within Monmouth County.

Compared to similar ZIP codes in New Jersey, 07721 has lower property taxes. ZIP codes with similar effective rates include 07734 (2.19%) and 07832 (2.19%).

In Cliffwood, property taxes represent approximately 6.6% of the median household income of $128,110, providing context for the relative tax burden on homeowners in this area.

New Jersey has no statewide property tax cap; Monmouth County assessments are locally determined and reset at fair market value upon sale with no guaranteed annual increase limit. The Homestead Benefit Program reduces tax liability for primary residences with household income ≤$150,000 (lower thresholds for seniors and disabled owners earning ≤$75,000) — submit your application to the Monmouth County Tax Board by June 1 to claim benefits. Register with the Monmouth County Assessor within 30 days of purchase and request your Certification of Principal Residence to qualify for exemptions.