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The average yearly property tax paid by Somerset County residents amounts to about 2.35% of their yearly income . Somerset County is ranked 1104th of the 3143 counties for property taxes as a percentage of median income.
The top 50 percentâs average income tax rate increased from 13.05 percent to 13.76 percent. The average tax rate for taxpayers in the top 1 percent also increased from 23.4 percent to 23.5 percentâthe highest average tax rate of any income group.However, the average tax rate for the top 0.1 percent remained essentially flat, changing from 22.84 in 2010 to 22.82 percent in 2011.he average tax rate for taxpayers in the top 1 percent also increased from 23.4 percent to 23.5 percentâthe highest average tax rate of any income group.