Q: When are Somerset County property taxes due for FY 2025?
A: Property taxes are due March 31 annually, with some municipalities offering quarterly payment options. Contact your local tax collector for specific payment schedules and any available installment plans.
Q: What tax credits are available and how do I apply?
A: Common credits include the Homestead Benefit (income-based, requires annual application), Senior Freeze (for seniors meeting income limits), Disabled Veteran credits, and Senior/Disabled Person Property Tax Deduction. All require separate applications with specific deadlines, typically by October 1st for the following tax year.
Q: How does the Homestead Benefit work?
A: The Homestead Benefit is a tax credit that caps annual assessment increases, not an exemption that reduces market value. It requires annual application through NJ Division of Taxation and provides relief based on income levels. This credit appears on your tax bill after approval.
Q: How often are properties reassessed in Somerset County?
A: Somerset County conducts periodic reassessments to maintain current market valuations. Reassessment schedules vary by municipality. Property owners receive notice before reassessment and can appeal assessments through the county tax board if they believe the valuation is incorrect.
Q: What are the penalties for late property tax payments?
A: Late payments incur interest charges of 8% per year (prorated monthly) plus potential penalties. Extended delinquency can result in tax lien certificates being sold to investors, so prompt payment is essential.
Q: Can I pay property taxes online?
A: Yes, Somerset County offers online payment options through county and municipal websites. Payment methods typically include electronic check, credit card (with processing fees), and bank transfers. Check your tax bill or local tax collector website for specific online payment portals.
Q: What if I disagree with my property assessment?
A: You can appeal your assessment to the Somerset County Board of Taxation. Appeals must be filed by April 1st or 45 days after receiving a reassessment notice. You'll need evidence supporting your claim that the assessed value exceeds fair market value.
Q: How do special district taxes work?
A: Special districts (fire, library, lighting, etc.) levy additional taxes beyond county, municipal, and school taxes. These appear as separate line items on your tax bill and fund specific services. Rates vary by location and the districts serving your property.
