Gladstone, Somerset County, New Jersey Property Taxes

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

Median Gladstone, NJ effective property tax rate: 1.84%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Gladstone, NJ home value: $665,750
Median annual Gladstone, NJ tax bill: $11,884, $9,484 higher than the national median property tax bill of $2,400.

How are property taxes in Somerset calculated?

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

Last Updated March 1, 2025

Gladstone, Somerset County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.84%

Estimate Property Tax Bill

$12,250

$11,367

Ownwell’s Gladstone Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Gladstone with just two data points.

By entering your property's estimated assessed value, our calculator applies Gladstone’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 Gladstone, Somerset County, New Jersey

Local governments determine property tax rates, leading to significant variations even within a single state. This occurs because each county annually calculates the budget needed for public services and divides it by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While establishing these rates involves voting and legislation, this is essentially the yearly procedure.

In Gladstone, located in Somerset County, the effective property tax rate offers an interesting comparison against other cities in New Jersey, as well as the state and national medians. New Jersey's median property tax rate stands out, being significantly higher than the national median of 1.02%. This highlights the importance of understanding local tax dynamics, as they can have a substantial impact on property owners' financial responsibilities. By staying informed and possibly seeking professional assistance, property owners can better navigate these complexities and potentially reduce their tax burden.

Property Tax Rates Across Gladstone, 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 Gladstone Tax Rate

1.84%

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 Gladstone, Somerset County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07934	1.62%	1.81%	1.84%	1.84%	1.84%

Source: Ownwell

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

When examining property taxes in Gladstone, 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 Gladstone.

For example, the median home price in Gladstone is $665,750, with tax bills ranging significantly across the county. The zip code 07934 has the highest median home price at $665,750.

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

Source: Ownwell

$230,000

$621,625

$1,013,250

Median Gladstone Market Value

$665,750

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 Gladstone, Somerset County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07934	$425,380	$514,050	$665,750	$860,625	$1,126,340

Source: Ownwell

Property Tax Bills Across Gladstone, Somerset County, New Jersey

In Gladstone, NJ, property tax bills are determined by assessing the property's market value and applying the local tax rate. This tax rate is influenced by the county's budget needs, school district funding, and municipal services. The median home price in Gladstone is $665,750, significantly higher than the national median, which contributes to the substantial property tax bills in the area. Homeowners in Gladstone face a median tax bill of $11,884, considerably above the national median of $2,400. Tax bills can range from $9,101 at the 25th percentile to $20,437 at the 90th percentile, indicating a wide variance based on property value and location within the city. Such high property taxes can be a financial burden for homeowners. Ownwell offers expertise in property tax appeals, potentially reducing these burdens. By analyzing property assessments and identifying discrepancies, Ownwell helps homeowners secure fairer tax rates, ensuring they do not overpay. This service can lead to significant savings, providing financial relief to Gladstone residents.

Property Tax Bills Across Gladstone, Somerset County, New Jersey

Source: Ownwell

$4,735

$12,659

$20,582

Median Gladstone Tax Bill

$11,884

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 Gladstone, Somerset County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07934	$7,519	$9,101	$11,884	$15,473	$20,437

Source: Ownwell