South Bound Brook, Somerset County, New Jersey Property Taxes

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

Median South Bound Brook, NJ effective property tax rate: 3.55%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median South Bound Brook, NJ home value: $240,900
Median annual South Bound Brook, NJ tax bill: $8,244, $5,844 higher than the national median property tax bill of $2,400.

How are property taxes in Somerset calculated?

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

Last Updated March 1, 2025

South Bound Brook, Somerset County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.55%

Estimate Property Tax Bill

$8,552

$7,936

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

By entering your property's estimated assessed value, our calculator applies South Bound Brook’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 County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across South Bound Brook, Somerset County, New Jersey

Local government entities set tax rates, which can vary widely within a state. 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.

In South Bound Brook, located in Somerset County, NJ, the property tax rate stands out compared to the rest of the state and the nation. The effective property tax rate here is significantly higher than the national median of 1.02%. This means that homeowners in this area are paying a larger proportion of their property's assessed value in taxes. It’s important for property owners in South Bound Brook to be aware of this rate, as it directly impacts their annual tax bill, which is also considerably above the national median of $2400. Understanding these rates can help residents make informed decisions about property ownership and appeal opportunities.

Property Tax Rates Across South Bound Brook, 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 South Bound Brook Tax Rate

3.55%

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 South Bound Brook, Somerset County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08880	3.21%	3.49%	3.55%	3.55%	3.55%

Source: Ownwell

Property Tax Assessment Values Across South Bound Brook, Somerset County, New Jersey

When examining property taxes in South Bound 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 South Bound Brook.

For example, the median home price in South Bound Brook is $240,900, with tax bills ranging significantly across the county. 08880 has the highest median home price at $240,900.

Property Tax Assessment Values Across South Bound Brook, Somerset County, New Jersey

Source: Ownwell

$230,000

$621,625

$1,013,250

Median South Bound Brook Market Value

$240,900

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 South Bound Brook, Somerset County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08880	$174,880	$210,000	$240,900	$275,000	$320,000

Source: Ownwell

Property Tax Bills Across South Bound Brook, Somerset County, New Jersey

In South Bound Brook, Somerset County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in the area is $240,900, significantly affecting the tax bill. Homeowners in South Bound Brook face a median property tax bill of $8,244, which is notably higher than the national median of $2,400. This substantial difference is due to the relatively high property tax rate in the region. Factors such as the property's location, improvements, and market conditions can influence the assessed value, impacting the overall tax bill. Homeowners often find these taxes burdensome, especially when rates or assessed values increase without a corresponding rise in income. Ownwell offers valuable assistance to homeowners by providing property tax appeal and exemption services. By analyzing property assessments and identifying potential discrepancies, Ownwell helps homeowners reduce their tax burden, ensuring they only pay their fair share. This service can lead to significant savings and financial relief for property owners in South Bound Brook.

Property Tax Bills Across South Bound Brook, Somerset County, New Jersey

Source: Ownwell

$4,735

$12,659

$20,582

Median South Bound Brook Tax Bill

$8,244

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 South Bound Brook, Somerset County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08880	$6,371	$7,249	$8,244	$9,313	$10,535

Source: Ownwell