Calculate using real Newark data. Median home price: $370,000. Property tax rate: 2.49%.
The effective property tax rate in Newark, NJ is 2.49%. On the median home value of $370,000, that equals approximately $9,213 per year.
At the 2.49% effective rate, a $370,000 home in Newark, NJ would pay about $9,213 annually, or $768 per month.
The 2.49% rate in Newark, NJ is above the national average of roughly 1.1%.