07860 Property Tax Rate

Property owners in ZIP code 07860 (Newton, New Jersey) pay a median of $8,969/year in property taxes on homes valued at $336,600. This translates to an effective tax rate of 2.66%, which is 30% above the New Jersey state average of 2.04%.

The monthly property tax burden for a median-valued home in 07860 is approximately $747, which factors into escrow payments on mortgages. This ZIP code is located within Sussex County. This is $372 more than the New Jersey average of $8,597/year.

Compared to similar ZIP codes in New Jersey, 07860 has higher property taxes. ZIP codes with similar effective rates include 07421 (2.66%) and 08832 (2.66%).

In Newton, property taxes represent approximately 8.6% of the median household income of $104,113, 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.