Lanark Village, Franklin County, Florida Property Taxes

Name: Property Tax Bills Across Lanark Village, Franklin County, Florida
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Lanark Village, FL effective property tax rate: 0.98%, significantly lower than the national median of 1.02%, but lower than the Florida state median of 1.14%. Median Lanark Village, FL home value: $61,845. Median annual Lanark Village, FL tax bill: $530, $1,870 lower than the national median property tax bill of $2,400.

How are property taxes in Franklin County calculated?

Property taxes in Lanark Village, FL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Lanark Village’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lanark Village, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lanark Village, Franklin County, Florida Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.98%

Estimate Property Tax Bill

$606

$562

Ownwell’s Lanark Village Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lanark Village with just two data points. By entering your property's estimated assessed value, our calculator applies Lanark Village’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Franklin County — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Franklin County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lanark Village, Franklin County, Florida

Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation is due to each county's annual budgetary needs. Counties estimate the necessary budget to provide essential services and divide that by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. While votes and laws play a role in determining tax rates and budgets, this is essentially the annual process.

In Lanark Village, Franklin County, the effective property tax rate is a reflection of this process. Comparing Lanark Village's property tax rate to other cities in Florida, it aligns closely with the state median, which is slightly below the national median of 1.02%. This means property owners in Lanark Village may benefit from relatively lower tax bills compared to the national average, where the median property tax bill is $2,400. Understanding these rates can help property owners make informed decisions and potentially save on property taxes.

Property Tax Rates Across Lanark Village, Franklin County, Florida

Source: Ownwell

0.74%

0.95%

1.15%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Lanark Village Tax Rate

0.98%

Median Effective Franklin County Tax Rate

0.87%

Median Effective Florida Tax Rate

1.14%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lanark Village, Franklin County, Florida

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
32323	0.21%	0.87%	0.98%	1.00%	1.05%

Source: Ownwell

Property Tax Assessment Values Across Lanark Village, Franklin County, Florida

When examining property taxes in Lanark Village, Florida, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Franklin County Property Appraiser estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Franklin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lanark Village. For example, the median home price in Lanark Village is $61,845, with tax bills ranging significantly across the county. The zip code 32323 has the highest median home price at $61,845.

Property Tax Assessment Values Across Lanark Village, Franklin County, Florida

Source: Ownwell

$61,845

$308,836

$555,827

Median Lanark Village Market Value

$61,845

Median Franklin County Market Value

$239,550

Median Florida Market Value

$276,648

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lanark Village, Franklin County, Florida

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
32323	$39,834	$50,308	$61,845	$80,589	$110,675

Source: Ownwell

Property Tax Bills Across Lanark Village, Franklin County, Florida

In Lanark Village, Franklin County, FL, property tax bills are calculated based on the assessed value of a home. The county assesses property values to determine the tax bill, which is then influenced by the local tax rate. In Lanark Village, the median tax bill stands at $530, significantly lower than the national median of $2,400. Factors such as property size, location, and market conditions can affect the assessed value, impacting the overall tax bill. Homeowners in this region typically see tax bills ranging from $400 at the 25th percentile to $940 at the 90th percentile. While these figures are relatively low compared to the national average, any opportunity to save is valuable. This is where Ownwell steps in. By leveraging expert knowledge of local tax codes and appeal processes, Ownwell helps homeowners identify potential savings on their property tax bills. With the right guidance, homeowners can ensure they are not overpaying and keep more money in their pockets.

Property Tax Bills Across Lanark Village, Franklin County, Florida

Source: Ownwell

$530

$2,362

$4,194

Median Lanark Village Tax Bill

$530

Median Franklin County Tax Bill

$2,090

Median Florida Tax Bill

$2,953

Median United States Tax Bill

$2,400

Property Tax Bills Across Lanark Village, Franklin County, Florida

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
32323	$167	$400	$530	$692	$940

Source: Ownwell