Tax Burden in ZIP Code 07102
Newark, NJ — Essex County
At the median income of $38,000, the estimated total tax burden in ZIP 07102 is $15,229 (40.1% effective rate), including federal income tax, FICA, and property tax.
Federal Tax (est.)
$3,800
FICA
$2,907
Property Tax
$8,522
Total Tax Burden
$15,229
40.1% effective
Tax Details for ZIP 07102
ZIP code 07102 is located in Essex County, NJ, within the New York MSA metropolitan area. The area has a cost of living index of 122 (100 = national average), making it more expensive than most parts of the country.
The effective property tax rate is 2.47%. On the median home price of $345,000, this equals $8,522 per year ($710/month).
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