Bernardsville, Somerset County, New Jersey Property Taxes

Name: Property Tax Bills Across Bernardsville, Somerset County, New Jersey
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Bernardsville, NJ effective property tax rate: 2.06%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Bernardsville, NJ home value: $630,800
Median annual Bernardsville, NJ tax bill: $12,852, $10,452 higher than the national median property tax bill of $2,400.

How are property taxes in Somerset calculated?

Property taxes in Bernardsville, 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 Bernardsville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bernardsville, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Bernardsville, Somerset County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.06%

Estimate Property Tax Bill

$12,994

$12,059

Ownwell’s Bernardsville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bernardsville with just two data points. By entering your property's estimated assessed value, our calculator applies Bernardsville’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Somerset. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Bernardsville, Somerset County, New Jersey

As noted earlier, 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 Bernardsville’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S. Bernardsville, located in Somerset County, has an effective property tax rate of 2.06%, which is significantly higher than the national median of 1.02%. This places Bernardsville among the areas with the highest property tax rates in the country. The median property tax bill in Bernardsville reflects this higher rate, as it surpasses the national median of $2,400. Understanding these rates is crucial for property owners in Bernardsville, as they directly impact the annual financial obligations associated with property ownership. Whether you're a current resident or considering moving to Bernardsville, being informed about local property tax trends is essential for effective financial planning.

Property Tax Rates Across Bernardsville, Somerset County, New Jersey

Source: Ownwell

1.35%

2.72%

4.08%

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 Bernardsville Tax Rate

2.06%

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 Bernardsville, Somerset County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07924	1.98%	2.06%	2.06%	2.06%	2.06%

Source: Ownwell

Property Tax Assessment Values Across Bernardsville, Somerset County, New Jersey

When examining property taxes in Bernardsville, 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 Board of Taxation 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. Assessment notices: 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 Bernardsville. For example, the median home price in Bernardsville is $630,800, with tax bills ranging significantly across the county. 07924 has the highest median home price at $630,800.

Property Tax Assessment Values Across Bernardsville, Somerset County, New Jersey

Source: Ownwell

$230,000

$621,625

$1,013,250

Median Bernardsville Market Value

$630,800

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 Bernardsville, Somerset County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07924	$356,040	$452,300	$630,800	$936,050	$1,366,040

Source: Ownwell

Property Tax Bills Across Bernardsville, Somerset County, New Jersey

In Bernardsville, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. Factors such as the property's location, size, and condition influence this assessed value. The tax rate is then applied to the assessed value to determine the tax bill. Homeowners in Bernardsville face one of the highest median tax bills in the nation, with the median tax bill reaching $12,852, significantly higher than the national median of $2,400. This hefty tax burden can strain homeowners, especially when compared to the national median property tax rate of 1.02%.

Ownwell assists homeowners by providing property tax appeal and exemption services, which can lead to substantial savings. By analyzing each property's assessed value and comparing it with market trends, Ownwell identifies potential discrepancies and advocates for fairer assessments. This can result in reduced tax bills, providing financial relief for homeowners in Bernardsville who are grappling with high property taxes.

Property Tax Bills Across Bernardsville, Somerset County, New Jersey

Source: Ownwell

$4,735

$12,659

$20,582

Median Bernardsville Tax Bill

$12,852

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 Bernardsville, Somerset County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07924	$6,925	$9,048	$12,852	$19,104	$27,760

Source: Ownwell