Franklin Springs, Georgia Property Taxes
The median property tax rate in Franklin Springs, GA is 1.05%, slightly higher than the national median of 0.99% but lower than the Georgia state median of 1.08%. With a median home value of $205,272 in Franklin Springs, the typical annual property tax bill amounts to $2,161, which is below the national median of $2,690. Property taxes in Franklin Springs are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Franklin Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Franklin Springs or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Franklin Springs, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$2,155
$2,093
Ownwell’s Franklin Springs Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Franklin Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Franklin Springs 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 Springs, Georgia
Property taxes in Franklin Springs, Georgia, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Franklin Springs is 1.05%, which is higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Franklin Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Franklin Springs 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 Springs' effective property tax rate to other counties in Georgia and the national median. For comparison, the ZIP code 30639 has the highest median property tax rate of 1.05%, while the same ZIP code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Franklin Springs provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Franklin Springs Tax Rate
1.05%
Average Franklin County Tax Rate
1.03%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Franklin Springs, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30639 | 1.05% | 1.05% | 1.05% | 1.05% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Franklin Springs, Georgia
In Franklin Springs, 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 Franklin 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 Springs, 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. For instance, the median home price in Franklin Springs is $205,272, with a median tax bill of $2,161. Interestingly, the highest and lowest median tax bills are both found in the 30639 zip code, each amounting to $2,161. 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 Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Franklin Springs, Georgia
Source: Ownwell
$97,612
$740,210
$1,382,807
Average Franklin Springs Assessed Value
$205,272
Average Franklin County Assessed Value
$136,560
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Franklin Springs, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30639 | $205,272 | $205,272 | $205,272 | $205,272 | $205,272 |
Source: Ownwell
Property Tax Bills Across Franklin Springs, Georgia
In Franklin Springs, located in Franklin County, GA, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The process begins with the local tax assessor determining the market value of a home. This value is then multiplied by the assessment ratio set by the state, which gives the assessed value. Homeowners in Franklin Springs can expect a median property tax bill of approximately $2,161, regardless of the property's market value, which is notably higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's location, improvements made, and any applicable exemptions. For homeowners, this means that even small changes in the assessed value can significantly impact their annual tax bill. Understanding these factors can help homeowners anticipate and manage their property tax obligations more effectively. The uniformity of the median tax bill in Franklin Springs provides a predictable financial landscape for its residents.
Average Franklin Springs Tax Bill
$2,161
Average Franklin County Tax Bill
$1,238
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Franklin Springs, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30639 | $2,161 | $2,161 | $2,161 | $2,161 | $2,161 |
Source: Ownwell