Somerville, Somerset County, New Jersey Property Taxes
Median Somerville, NJ effective property tax rate: 3.74%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Somerville, NJ home value: $271,850
Median annual Somerville, NJ tax bill: $10,083, $7,683 higher than the national median property tax bill of $2,400.
How are property taxes in Somerset calculated?
Property taxes in Somerville, 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 Somerville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Somerville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Somerville, Somerset County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.74%
Estimate Property Tax Bill
$10,167
$9,435
Property Tax Rates Across Somerville, Somerset County, New Jersey
Local government entities in New Jersey set property tax rates, which can vary widely across the state. Each year, Somerset County estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the annual process in a nutshell.
Somerville, located in Somerset County, has an effective property tax rate of 3.74%, which stands out compared to other cities in New Jersey. This rate is significantly higher than the national median property tax rate of 1.02%. Additionally, the median property tax bill in Somerville is notably above the national median of $2,400. Such a high rate can impact homeowners and potential buyers, making it crucial for property owners to explore tax appeal and exemption services to potentially lower their tax burden. Understanding these rates and their implications can help property owners in Somerville make informed decisions about their investments and financial planning.
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 Somerville Tax Rate
3.74%
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 Somerville, Somerset County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08876 | 3.63% | 3.74% | 3.74% | 3.74% | 3.74% |
Source: Ownwell
Property Tax Assessment Values Across Somerville, Somerset County, New Jersey
When examining property taxes in Somerville, 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.
Assessment notices in Somerset County are sent in the spring each year, typically reaching 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 Somerville. For example, the median home price in Somerville is $271,850, with tax bills ranging significantly across the county. Zip code 08876 has the highest median home price at $271,850.
Property Tax Assessment Values Across Somerville, Somerset County, New Jersey
Source: Ownwell
$230,000
$621,625
$1,013,250
Median Somerville Market Value
$271,850
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 Somerville, Somerset County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08876 | $192,870 | $233,700 | $271,850 | $314,525 | $398,630 |
Source: Ownwell
Property Tax Bills Across Somerville, Somerset County, New Jersey
In Somerville, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors influencing the tax bill include the market value of the property and local government budgets. Homeowners in Somerville face significant property tax bills, with the median tax bill reaching $10,083, which is substantially higher than the national median of $2,400. This places a considerable financial burden on homeowners, especially when compared to the national median property tax rate of 1.02%.
Ownwell can assist homeowners in Somerville by providing property tax appeal and exemption services. By analyzing the assessed value of a property and comparing it to similar properties, Ownwell identifies potential discrepancies and files appeals on behalf of the homeowner. This service can lead to significant savings, reducing the financial strain of high property taxes and ensuring that homeowners pay only their fair share.
Property Tax Bills Across Somerville, Somerset County, New Jersey
Source: Ownwell
$4,735
$12,659
$20,582
Median Somerville Tax Bill
$10,083
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 Somerville, Somerset County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08876 | $7,340 | $8,693 | $10,083 | $11,430 | $13,677 |
Source: Ownwell