Branchburg, Somerset County, New Jersey Property Taxes
Median Branchburg, NJ effective property tax rate: 1.97%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Branchburg, NJ home value: $477,900
Median annual Branchburg, NJ tax bill: $9,321, $6,921 higher than the national median property tax bill of $2,400.
How are property taxes in Somerset calculated?
Property taxes in Branchburg, NJ are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Branchburg’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Branchburg, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Branchburg, Somerset County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.97%
Estimate Property Tax Bill
$9,415
$8,737
Property Tax Rates Across Branchburg, Somerset County, New Jersey
Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Branchburg’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.
Branchburg, located in Somerset County, showcases a property tax rate that stands out when compared to national figures. The median property tax rate in Branchburg is significantly higher than the national median, reflecting the state's trend of having some of the highest property taxes in the country. This can be attributed to the county's strategy to meet budgetary needs through property taxation. Understanding these dynamics can offer valuable insights for property owners looking to manage their tax liabilities effectively.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Branchburg Tax Rate
1.97%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Somerset County Tax Rate
2.05%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Branchburg, Somerset County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08853 | 1.84% | 1.97% | 1.97% | 1.97% | 1.97% |
| 08876 | 1.78% | 1.97% | 1.97% | 1.97% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Branchburg, Somerset County, New Jersey
When examining property taxes in Branchburg, NJ, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Somerset County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Somerset County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Branchburg. For example, the median home price in Branchburg is $477,900, with tax bills ranging significantly across the county. Zip code 08853 has the highest median home price at $562,800.
Property Tax Assessment Values Across Branchburg, Somerset County, New Jersey
Source: Ownwell
$230,000
$621,625
$1,013,250
Median Branchburg Market Value
$477,900
Median Somerset County Market Value
$415,100
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Branchburg, Somerset County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08853 | $375,920 | $453,700 | $562,800 | $638,050 | $764,340 |
| 08876 | $256,400 | $352,500 | $442,100 | $532,200 | $644,300 |
Source: Ownwell
Property Tax Bills Across Branchburg, Somerset County, New Jersey
Property Tax Bills Across Branchburg, Somerset County, New Jersey
Source: Ownwell
$4,735
$12,659
$20,582
Median Branchburg Tax Bill
$9,321
Median Somerset County Tax Bill
$9,311
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Branchburg, Somerset County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08853 | $7,377 | $8,929 | $11,004 | $12,546 | $15,142 |
| 08876 | $5,047 | $6,806 | $8,625 | $10,395 | $12,593 |
Source: Ownwell