08558 Property Tax Rate

Property owners in ZIP code 08558 (Skillman, New Jersey) pay a median of $10,001/year in property taxes on homes valued at $853,300. This translates to an effective tax rate of 1.17%, which is 43% below the New Jersey state average of 2.04%.

The monthly property tax burden for a median-valued home in 08558 is approximately $833, which factors into escrow payments on mortgages. This ZIP code is located within Somerset County. This is $1,404 more than the New Jersey average of $8,597/year.

Compared to similar ZIP codes in New Jersey, 08558 has lower property taxes. ZIP codes with similar effective rates include 07302 (1.17%) and 08736 (1.18%).

In Skillman, property taxes represent approximately 4.2% of the median household income of $240,968, providing context for the relative tax burden on homeowners in this area.

New Jersey has no statewide property tax cap; Somerset County assessments are determined locally and may increase each year without statutory limitation. The Homestead Benefit Program provides tax credits for primary residences with household income ≤$150,000 (reduced thresholds apply for seniors and disabled owners) — file with the Somerset County Tax Board by the June 1 deadline to maximize relief. Contact the Somerset County Assessor immediately upon purchase to register your home and request verification of your assessed value.