Rocky Hill, Somerset County, New Jersey Property Taxes
Median Rocky Hill, NJ effective property tax rate: 2.21%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Rocky Hill, NJ home value: $491,000
Median annual Rocky Hill, NJ tax bill: $10,716, $8,316 higher than the national median property tax bill of $2,400.
How are property taxes in Somerset calculated?
Property taxes in Rocky Hill, 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 Rocky Hill’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Rocky Hill, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Rocky Hill, Somerset County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.08%
Estimate Property Tax Bill
$12,083
$11,212
Property Tax Rates Across Rocky Hill, Somerset County, New Jersey
Local government entities are responsible for setting property tax rates, which can differ significantly within a state. This is because each county, like 34035 in New Jersey, estimates its required budget annually to deliver public services. This budget is then divided by the total value of all taxable property in the area, resulting in the property tax rate. While votes and legal regulations play a role in determining these rates and budgets, this is essentially the yearly process.
In Rocky Hill, located in Somerset County, the effective property tax rate is 2.21%. This rate is notably higher than both the New Jersey median property tax rate and the national median rate of 1.02%. Consequently, homeowners in Rocky Hill often face property tax bills that are considerably above the national median of $2,400. Understanding these rates can help property owners make informed decisions about appealing their property assessments or seeking exemptions. By doing so, they may potentially reduce their tax burdens and better manage their financial obligations.
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 Rocky Hill Tax Rate
2.08%
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 Somerset County Tax Rate
1.95%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Rocky Hill, Somerset County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08553 | 2.08% | 2.08% | 2.08% | 2.08% | 2.08% |
Source: Ownwell
Property Tax Assessment Values Across Rocky Hill, Somerset County, New Jersey
When examining property taxes in Rocky Hill, 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, 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 Rocky Hill.
For example, the median home price in Rocky Hill is $491,000, with tax bills ranging significantly across the county. 08553 has the highest median home price at $491,000.
Property Tax Assessment Values Across Rocky Hill, Somerset County, New Jersey
Source: Ownwell
$230,000
$696,925
$1,163,850
Median Rocky Hill Market Value
$580,900
Median Somerset County Market Value
$480,100
Median New Jersey Market Value
$288,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Rocky Hill, Somerset County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08553 | $357,600 | $438,900 | $580,900 | $703,700 | $783,300 |
Source: Ownwell
Property Tax Bills Across Rocky Hill, Somerset County, New Jersey
In Rocky Hill, located in Somerset County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. With a median home price of $491,000, homeowners in this area face property tax bills that can vary significantly. The 25th percentile tax bill is approximately $8,185, while those in the 75th percentile pay around $13,063. At the higher end, the 90th percentile reaches about $14,664. These figures are considerably above the national median property tax bill of $2,400, reflecting the area's higher property values and tax rates.
High property tax bills can place a significant burden on homeowners, affecting their overall financial well-being. That's where Ownwell comes in. By leveraging expert knowledge and a thorough understanding of local tax codes, Ownwell assists homeowners in identifying potential savings on their property tax bills. Whether it's through appealing assessed values or uncovering eligible exemptions, Ownwell aims to reduce the financial strain of property taxes, ensuring homeowners pay only what they truly owe.
Property Tax Bills Across Rocky Hill, Somerset County, New Jersey
Source: Ownwell
$4,926
$15,347
$25,768
Median Rocky Hill Tax Bill
$12,071
Median Somerset County Tax Bill
$10,186
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$2,400
Property Tax Bills Across Rocky Hill, Somerset County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08553 | $7,431 | $9,120 | $12,071 | $14,623 | $16,277 |
Source: Ownwell