Green Brook, Somerset County, New Jersey Property Taxes
Median Green Brook, NJ effective property tax rate: 2.30%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Green Brook, NJ home value: $465,600
Median annual Green Brook, NJ tax bill: $10,792, $8,392 higher than the national median property tax bill of $2,400.
How are property taxes in Somerset calculated?
Property taxes in Green Brook, 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 Green Brook’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Green Brook, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Green Brook, Somerset County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.3%
Estimate Property Tax Bill
$10,709
$9,937
Property Tax Rates Across Green Brook, Somerset County, New Jersey
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget for services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the annual process in essence.
In Green Brook, located in Somerset County, the effective property tax rate stands at 2.30%. This rate is notably higher than New Jersey's median property tax rate and significantly exceeds the national median property tax rate of 1.02%. The property tax bill in Green Brook also surpasses the national median bill of $2,400. Such a high rate reflects the county's budgetary needs and property values, which are unique to this area. When compared to other cities within New Jersey, Green Brook's tax rate is among the highest, underscoring the importance of understanding local tax dynamics.
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 Green Brook Tax Rate
2.30%
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 Green Brook, Somerset County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08812 | 2.16% | 2.22% | 2.30% | 2.38% | 2.49% |
Source: Ownwell
Property Tax Assessment Values Across Green Brook, Somerset County, New Jersey
When examining property taxes in Green Brook, 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 Green Brook.
For example, the median home price in Green Brook is $465,600, with tax bills ranging significantly across the county. Zip code 08812 has the highest median home price at $465,600.
Property Tax Assessment Values Across Green Brook, Somerset County, New Jersey
Source: Ownwell
$230,000
$621,625
$1,013,250
Median Green Brook Market Value
$465,600
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 Green Brook, Somerset County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08812 | $352,500 | $390,000 | $465,600 | $593,000 | $851,120 |
Source: Ownwell
Property Tax Bills Across Green Brook, Somerset County, New Jersey
Property Tax Bills Across Green Brook, Somerset County, New Jersey
Source: Ownwell
$4,735
$12,659
$20,582
Median Green Brook Tax Bill
$10,792
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 Green Brook, Somerset County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08812 | $7,983 | $8,963 | $10,792 | $13,519 | $19,298 |
Source: Ownwell