Somerset County, New Jersey Property Taxes
The median property tax rate in Somerset County is 2.05%, which is significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Somerset County at $415,100, the typical annual property tax bill reaches $9,311, far exceeding the national median of $2,690. Property taxes in Somerset County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Somerset County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Bridgewater or another part of Somerset County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Somerset County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.05%
Estimate Property Tax Bill
$8,510
$7,897
Ownwell’s Somerset Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Somerset with just two data points. By entering your property's estimated assessed value, our calculator applies the median tax rate in Somerset to provide an estimated property tax bill. This valuable tool helps you understand your potential tax liabilities clearly. For more localized trends and insights, scroll down to navigate to a city-level informational page. Your property's assessed value is determined by the county and takes into account any exemptions you may have, ensuring an accurate calculation for your property tax obligations.
Property Tax Rates Across Somerset County, New Jersey
Property taxes in Somerset County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Somerset County is 2.05%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Somerset County set these rates annually, and they can vary significantly between different areas within the county. Each year, Somerset County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of North Plainfield has one of the higher property tax rates in Somerset County at 4.08%, while the city of Bedminster boasts one of the lowest at 1.35%. Analyzing how Somerset County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Somerset County Tax Rate
2.05%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Somerset County, New Jersey
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Basking Ridge | 1.89% | 2.01% | 2.01% | 2.01% | 2.01% |
| Bedminster | 1.34% | 1.35% | 1.35% | 1.35% | 1.36% |
| Belle Mead | 3.19% | 3.22% | 3.22% | 3.22% | 3.22% |
| Berkeley Heights | 2.00% | 2.06% | 2.08% | 2.08% | 2.08% |
| Bernardsville | 1.98% | 2.06% | 2.06% | 2.06% | 2.06% |
| Blawenburg | 3.20% | 3.22% | 3.22% | 3.22% | 3.22% |
| Bound Brook | 2.07% | 2.10% | 2.32% | 2.44% | 2.52% |
| Branchburg | 1.79% | 1.97% | 1.97% | 1.97% | 1.97% |
| Bridgewater | 1.97% | 2.01% | 2.04% | 2.06% | 2.09% |
| Dunellen | 2.20% | 2.23% | 2.26% | 2.31% | 2.36% |
| Far Hills | 1.31% | 1.33% | 1.37% | 2.01% | 2.01% |
| Flagtown | 2.02% | 2.22% | 2.23% | 2.23% | 2.23% |
| Franklin Park | 1.86% | 2.03% | 2.03% | 2.03% | 2.03% |
| Gladstone | 1.62% | 1.81% | 1.84% | 1.84% | 1.84% |
| Green Brook | 2.16% | 2.22% | 2.30% | 2.38% | 2.49% |
| Hillsborough | 2.05% | 2.23% | 2.23% | 2.23% | 2.23% |
| Hopewell | 3.17% | 3.22% | 3.22% | 3.22% | 3.22% |
| Kingston | 1.86% | 2.05% | 2.05% | 2.05% | 2.05% |
| Liberty Corner | N/A | N/A | N/A | N/A | N/A |
| Manville | 2.10% | 2.54% | 2.62% | 2.62% | 2.62% |
| Martinsville | 1.99% | 2.02% | 2.04% | 2.07% | 2.08% |
| Neshanic Station | 1.96% | 1.97% | 1.97% | 1.97% | 1.97% |
| North Plainfield | 3.70% | 4.07% | 4.08% | 4.08% | 4.08% |
| Peapack | 1.79% | 1.84% | 1.84% | 1.84% | 1.84% |
| Plainfield | 3.68% | 4.03% | 4.08% | 4.08% | 4.08% |
| Pottersville | N/A | N/A | N/A | N/A | N/A |
| Princeton | 2.03% | 2.03% | 3.19% | 3.22% | 3.22% |
| Raritan | 2.29% | 2.76% | 2.77% | 2.77% | 2.77% |
| Rocky Hill | 2.16% | 2.19% | 2.21% | 2.22% | 2.26% |
| S Bound Brook | N/A | N/A | N/A | N/A | N/A |
| Skillman | 3.17% | 3.22% | 3.22% | 3.22% | 3.22% |
| Somerset | 1.85% | 2.03% | 2.04% | 2.05% | 2.05% |
| Somerville | 3.63% | 3.74% | 3.74% | 3.74% | 3.74% |
| South Bound Brook | 3.21% | 3.49% | 3.55% | 3.55% | 3.55% |
| Warren | 1.84% | 1.99% | 1.99% | 1.99% | 1.99% |
| Watchung | 2.03% | 2.07% | 2.08% | 2.09% | 2.11% |
| Waukesha | N/A | N/A | N/A | N/A | N/A |
| Whitehouse Station | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Somerset County, New Jersey
In Somerset County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Somerset County Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Somerset County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Dunellen has the highest median tax bill at $20,582, while Bedminster has the lowest at $4,735. Being aware of these valuation processes in Somerset County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Somerset County, New Jersey
Source: Ownwell
$230,000
$621,625
$1,013,250
Average Somerset County Assessed Value
$415,100
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Somerset County, New Jersey
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Basking Ridge | $268,340 | $374,200 | $616,900 | $847,050 | $1,087,120 |
| Bedminster | $158,960 | $266,900 | $350,800 | $478,300 | $729,530 |
| Belle Mead | $320,434 | $412,175 | $516,900 | $617,850 | $734,400 |
| Berkeley Heights | $94,560 | $316,075 | $427,550 | $447,300 | $466,590 |
| Bernardsville | $356,040 | $452,300 | $630,800 | $936,050 | $1,366,040 |
| Blawenburg | $310,690 | $338,275 | $366,850 | $396,550 | $553,150 |
| Bound Brook | $233,460 | $300,600 | $352,700 | $405,300 | $475,960 |
| Branchburg | $268,600 | $370,375 | $477,900 | $569,525 | $676,970 |
| Bridgewater | $250,520 | $324,125 | $442,050 | $583,250 | $678,870 |
| Dunellen | $622,900 | $841,250 | $913,500 | $973,700 | $1,039,220 |
| Far Hills | $426,900 | $597,250 | $1,013,250 | $1,531,075 | $2,415,920 |
| Flagtown | $279,350 | $307,775 | $364,850 | $414,175 | $460,950 |
| Franklin Park | $164,180 | $229,100 | $263,600 | $367,775 | $560,270 |
| Gladstone | $425,380 | $514,050 | $665,750 | $860,625 | $1,126,340 |
| Green Brook | $352,500 | $390,000 | $465,600 | $593,000 | $851,120 |
| Hillsborough | $242,970 | $295,700 | $454,200 | $576,100 | $732,400 |
| Hopewell | $322,540 | $332,900 | $383,650 | $448,125 | $1,043,290 |
| Kingston | $264,160 | $304,700 | $334,900 | $389,700 | $475,300 |
| Liberty Corner | N/A | N/A | N/A | N/A | N/A |
| Manville | $191,640 | $250,925 | $298,700 | $332,275 | $368,100 |
| Martinsville | $405,570 | $475,475 | $545,700 | $727,050 | $940,100 |
| Neshanic Station | $255,900 | $322,000 | $410,700 | $508,700 | $518,860 |
| North Plainfield | $80,000 | $203,875 | $235,000 | $261,000 | $294,000 |
| Peapack | $300,000 | $409,625 | $528,400 | $822,550 | $1,083,510 |
| Plainfield | $191,500 | $220,000 | $238,100 | $259,700 | $284,620 |
| Pottersville | N/A | N/A | N/A | N/A | N/A |
| Princeton | $271,000 | $319,900 | $393,500 | $567,425 | $663,800 |
| Raritan | $240,200 | $268,400 | $295,300 | $351,600 | $476,800 |
| Rocky Hill | $301,520 | $372,900 | $491,000 | $588,600 | $667,820 |
| S Bound Brook | N/A | N/A | N/A | N/A | N/A |
| Skillman | $348,840 | $436,700 | $544,300 | $672,900 | $825,000 |
| Somerset | $261,000 | $301,200 | $380,700 | $465,500 | $580,790 |
| Somerville | $192,870 | $233,700 | $271,850 | $314,525 | $398,630 |
| South Bound Brook | $174,880 | $210,000 | $240,900 | $275,000 | $320,000 |
| Warren | $373,450 | $530,700 | $724,450 | $936,225 | $1,199,100 |
| Watchung | $428,470 | $533,300 | $681,600 | $891,950 | $1,230,440 |
| Waukesha | N/A | N/A | N/A | N/A | N/A |
| Whitehouse Station | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Somerset County, New Jersey
In Somerset County, NJ, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, which is periodically evaluated by local assessors. Factors such as the property's location, size, and condition influence its assessed value. Homeowners in Somerset County face varying tax bills. For instance, the 25th percentile tax bill is $6,722, while the 75th percentile reaches $12,735. At the higher end, the 90th percentile tax bill is $17,639. Comparatively, the national median property tax rate is 0.99%, making Somerset County's tax burdens relatively high. The highest median tax bill in the county is in Dunellen, at $20,582, whereas Bedminster has the lowest median at $4,735. These taxes fund essential services like schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Hence, understanding property tax calculations can help homeowners anticipate their financial responsibilities and plan accordingly.
Average Somerset County Tax Bill
$9,311
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Somerset County, New Jersey
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Basking Ridge | $5,284 | $7,394 | $12,203 | $16,967 | $21,794 |
| Bedminster | $2,148 | $3,598 | $4,735 | $6,426 | $9,793 |
| Belle Mead | $10,049 | $13,115 | $16,498 | $19,797 | $23,575 |
| Berkeley Heights | $1,932 | $6,545 | $8,887 | $9,286 | $9,538 |
| Bernardsville | $6,925 | $9,048 | $12,852 | $19,104 | $27,760 |
| Blawenburg | $10,004 | $10,879 | $11,824 | $12,781 | $17,828 |
| Bound Brook | $5,307 | $6,900 | $8,056 | $9,420 | $11,329 |
| Branchburg | $5,384 | $7,219 | $9,321 | $11,161 | $13,300 |
| Bridgewater | $5,140 | $6,577 | $9,030 | $11,868 | $13,757 |
| Dunellen | $13,943 | $19,362 | $20,582 | $22,228 | $23,434 |
| Far Hills | $5,856 | $8,882 | $16,853 | $27,764 | $36,933 |
| Flagtown | $5,765 | $6,613 | $8,069 | $9,128 | $10,157 |
| Franklin Park | $3,170 | $4,614 | $5,272 | $7,261 | $10,973 |
| Gladstone | $7,519 | $9,101 | $11,884 | $15,473 | $20,437 |
| Green Brook | $7,983 | $8,963 | $10,792 | $13,519 | $19,298 |
| Hillsborough | $5,233 | $6,520 | $9,939 | $12,786 | $16,292 |
| Hopewell | $10,395 | $10,729 | $11,865 | $14,346 | $33,625 |
| Kingston | $5,340 | $6,063 | $6,813 | $7,700 | $9,762 |
| Liberty Corner | N/A | N/A | N/A | N/A | N/A |
| Manville | $4,992 | $6,215 | $7,495 | $8,489 | $9,435 |
| Martinsville | $8,323 | $9,781 | $11,154 | $14,728 | $18,999 |
| Neshanic Station | $5,039 | $6,340 | $8,087 | $10,016 | $10,164 |
| North Plainfield | $3,265 | $8,059 | $9,386 | $10,611 | $11,835 |
| Peapack | $5,514 | $7,130 | $9,638 | $15,034 | $19,915 |
| Plainfield | $6,996 | $8,472 | $9,386 | $10,548 | $11,408 |
| Pottersville | N/A | N/A | N/A | N/A | N/A |
| Princeton | $7,235 | $8,793 | $11,029 | $13,267 | $14,970 |
| Raritan | $6,137 | $7,039 | $7,963 | $9,507 | $12,872 |
| Rocky Hill | $6,705 | $8,185 | $10,716 | $13,063 | $14,664 |
| S Bound Brook | N/A | N/A | N/A | N/A | N/A |
| Skillman | $10,636 | $13,796 | $17,387 | $21,481 | $26,471 |
| Somerset | $5,073 | $6,014 | $7,528 | $9,269 | $11,709 |
| Somerville | $7,340 | $8,693 | $10,083 | $11,430 | $13,677 |
| South Bound Brook | $6,371 | $7,249 | $8,244 | $9,313 | $10,535 |
| Warren | $7,182 | $10,209 | $14,207 | $18,684 | $23,889 |
| Watchung | $8,850 | $10,992 | $14,067 | $18,514 | $25,585 |
| Waukesha | N/A | N/A | N/A | N/A | N/A |
| Whitehouse Station | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
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