Town of Somerset — Financial Data

2,597 Population FY 2024

$438 Town-Wide Per Capita Spending All residents incl. villages FY 2025

$994 Part-Town Per Capita Spending Outside villages only FY 2025

0.0% Debt Service FY 2024

6.7 Fiscal Stress FY 2024

3.3 Env. Stress FY 2024

Data comparability note: Contains villages: Village of Barker (pop. 575). Town-wide per capita spending covers all residents including village residents (A-fund services: community services, culture and recreation, debt service, economic development, employee benefits, general government, public safety, sanitation, transportation). Part-town per capita spending covers only residents outside incorporated villages (B-fund services: community services, culture and recreation, economic development, employee benefits, general government, health, public safety, sanitation, transportation).

Villages in Somerset

Total village population: 575 (22% of town)

Village of Barker pop. 575

Stress Trajectory

Community Profile

Census Bureau ACS 5-year estimates

13.5% Poverty Rate 2023

15.2% Bachelor's+ Rate 2023

2.6% Unemployment Rate 2023

86.0% Homeownership Rate 2023

Median Household Income

$66,643 (2023)

2010 2023

Per Capita Income

$31,327 (2023)

2010 2023

Median Home Value

$159,400 (2023)

2010 2023

Median Gross Rent

$682 (2023)

2010 2023

Median Age

44.4 (2023)

2010 2023

Gini Index

0 = perfect equality · 1 = perfect inequality

0.4 (2023)

2010 2023

Financial Trends

Total spending across all funds, including services for the entire town and services exclusive to areas outside villages · 1995–2025

Fiscal Health

Debt Outstanding

$0 (2024)

2011 2024

Full Value of Taxable Property

$294,290,155 (2024)

2011 2024

Debt Service

$0 (2024)

1997 2024

Debt Service %

0.0% (2024)

1997 2024

Town-Wide Per Capita Spending

$438 (2025)

2010 2025

Part-Town Per Capita Spending

$994 (2025)

2010 2025

Fiscal Stress Score (OSC)

0 = healthy · 100 = significant stress

6.7 (2024)

2012 2024

Environmental Stress Score (OSC)

0 = no stress · 100 = significant stress

3.3 (2024)

2012 2024

Top Revenue Sources

Sales And Use Tax

$748,415 (2025)

1995 2025

State Aid

$637,974 (2025)

1995 2025

Charges To Other Governments

$445,223 (2025)

1995 2025

Real Property Taxes And Assessments

$439,210 (2025)

1995 2025

Charges For Services

$162,409 (2025)

1995 2025

Top Expenditures

Transportation

$1,718,467 (2025)

1995 2025

General Government

$708,696 (2025)

1995 2025

Employee Benefits

$402,100 (2025)

1995 2025

Public Safety

$139,241 (2025)

1995 2025

Culture And Recreation

$104,942 (2025)

1995 2025

Financial Documents (85)

Year	Title	Type
2025	Town of Somerset OSC Annual Financial Report 2025	OSC_TOWN_CSV_AFR
2024	Town of Somerset OSC Annual Financial Report 2024	OSC_TOWN_CSV_AFR
2024	Town of Somerset OSC Annual Financial Report 2024	OSC_TOWN_AFR
2024	Town of Somerset FSMS Report 2024	FSMS_MONITORING
2023	Town of Somerset Census ACS 5-Year Estimates 2023	US_CENSUS_ACS5

View all 85 documents →

Governance & Structure

Governance Structure

Structure: Not specified
Fiscal Autonomy: Not specified
ICMA Recognition: —
Notes: None
OSC Code: 290378600000

School Details

Not applicable for this entity type.