08345 Property Tax Rate

Property owners in ZIP code 08345 (Newport, New Jersey) pay a median of $5,490/year in property taxes on homes valued at $196,700. This translates to an effective tax rate of 2.79%, which is 37% above the New Jersey state average of 2.04%.

The monthly property tax burden for a median-valued home in 08345 is approximately $458, which factors into escrow payments on mortgages. This ZIP code is located within Cumberland County. This is $3,107 less than the New Jersey average of $8,597/year.

Compared to similar ZIP codes in New Jersey, 08345 has lower property taxes. ZIP codes with similar effective rates include 08628 (2.79%) and 08075 (2.78%).

In Newport, property taxes represent approximately 8.6% of the median household income of $64,076, providing context for the relative tax burden on homeowners in this area.

New Jersey has no statewide property tax cap; Cumberland County assessments are set locally and may increase annually without state restriction, with reassessment at sale. The Homestead Benefit Program provides property tax credits for households earning ≤$150,000 (or ≤$75,000 for seniors and disabled homeowners) on primary residences — apply to the Cumberland County Tax Board by June 1 each year. Register with the Cumberland County Assessor within 30 days of purchase to file your principal residence declaration and confirm your baseline assessment.