Franklin, Georgia Property Taxes
The median property tax rate in Franklin, GA is 0.56%, significantly lower than both the national median of 0.99% and the Georgia state median of 1.08%. With a median home value of $163,965 in Franklin, the typical annual property tax bill is $1,523, which is below the national median of $2,690. Property taxes in Franklin are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. By understanding Franklin's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Franklin or another part of the city, getting a grasp on the local property tax system is crucial for financial planning and investment strategies.
Last Updated June 14, 2024
Franklin, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$918
$892
Ownwell’s Franklin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Franklin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Franklin to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Franklin, Georgia
Property taxes in Franklin, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Franklin is 0.56%, which is significantly lower than both the Georgia state median of 0.87% and the U.S. national median of 0.99%. Local government entities within Franklin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Franklin estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Franklin's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30217 zip code has the highest median property tax rate of 0.56%, while the 30217 zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Franklin provides valuable insights into the varying tax landscape across Heard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Franklin Tax Rate
0.56%
Average Coweta County Tax Rate
0.80%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Franklin, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30217 | 0.21% | 0.34% | 0.56% | 0.74% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Franklin, Georgia
In Franklin, Georgia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Coweta County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Franklin, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Franklin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 30217, with a median bill of $1,523.
Average Franklin Assessed Value
$163,965
Average Coweta County Assessed Value
$319,991
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Franklin, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30217 | $122,012 | $137,744 | $163,965 | $271,639 | $336,243 |
Source: Ownwell
Property Tax Bills Across Franklin, Georgia
In Franklin, Coweta County, GA, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the tax bill. For instance, with a median home price of $163,965, homeowners can expect their property tax bills to vary. At the 25th percentile, the tax bill is around $829, while at the 75th percentile, it rises to approximately $1,815. Those in the 90th percentile face bills close to $1,991. Several factors influence the tax bill, including the property’s location, size, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Franklin’s rates are relatively competitive. This variation in tax bills can significantly impact homeowners, affecting their annual financial planning and overall cost of homeownership. Understanding these factors helps homeowners anticipate their tax obligations more accurately.
Average Franklin Tax Bill
$1,523
Average Coweta County Tax Bill
$2,379
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Franklin, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30217 | $413 | $829 | $1,523 | $1,815 | $1,991 |
Source: Ownwell