Warren, Somerset County, New Jersey Property Taxes

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

Median Warren, NJ effective property tax rate: 1.99%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Warren, NJ home value: $724,450
Median annual Warren, NJ tax bill: $14,207, $11,807 higher than the national median property tax bill of $2,400.

How are property taxes in Somerset calculated?

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

Last Updated March 1, 2025

Warren, Somerset County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.99%

Estimate Property Tax Bill

$14,417

$13,378

Ownwell’s Warren Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Warren with just two data points. By entering your property's estimated assessed value, our calculator applies Warren’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 Warren, Somerset County, New Jersey

Local government entities set tax rates, which can vary widely within a state. 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 Warren's effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S. Warren, located in Somerset County, has an effective property tax rate of 1.99%, which is significantly higher than the national median property tax rate of 1.02%. This means that property owners in Warren are subject to higher property taxes compared to the national average. However, this rate is consistent with the median property tax rate in New Jersey, which also stands at 1.99%. This indicates that Warren’s property tax rate is aligned with the state’s average, reflecting the broader trend within New Jersey. Understanding these rates is crucial for property owners looking to manage their tax liabilities effectively.

Property Tax Rates Across Warren, 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 Warren Tax Rate

1.99%

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 Warren, Somerset County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07059	1.84%	1.99%	1.99%	1.99%	1.99%

Source: Ownwell

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

When examining property taxes in Warren, 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 Warren. For example, the median home price in Warren is $724,450, with tax bills ranging significantly across the county. Zip code 07059 has the highest median home price at $724,450.

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

Source: Ownwell

$230,000

$621,625

$1,013,250

Median Warren Market Value

$724,450

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 Warren, Somerset County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07059	$373,450	$530,700	$724,450	$936,225	$1,199,100

Source: Ownwell

Property Tax Bills Across Warren, Somerset County, New Jersey

In Warren, Somerset County, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The property tax rate is applied to this assessed value to calculate the tax bill. In Warren, the median home price is $724,450, leading to a significantly higher property tax bill than the national median of $2,400. Homeowners in Warren face a median tax bill of $14,207, which is considerably above the national average due to the high property values in the area. Various factors, such as changes in the market value of properties and local government budgets, can influence these tax bills. High property taxes can place a financial burden on homeowners, affecting their overall cost of living. Ownwell offers services to help homeowners reduce their property tax bills through appeals and exemptions. By leveraging their expertise, homeowners can potentially lower their tax liabilities, ensuring they pay only their fair share.

Property Tax Bills Across Warren, Somerset County, New Jersey

Source: Ownwell

$4,735

$12,659

$20,582

Median Warren Tax Bill

$14,207

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 Warren, Somerset County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07059	$7,182	$10,209	$14,207	$18,684	$23,889

Source: Ownwell