Franklin, Franklin County, Ohio Property Taxes

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

Median Franklin, OH effective property tax rate: 2.64%, significantly higher than the national median of 1.02%, but lower than the Ohio state median of 1.80%.
Median Franklin, OH home value: $6,700
Median annual Franklin, OH tax bill: $188, $2,212 lower than the national median property tax bill of $2,400.

How are property taxes in Franklin calculated?

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

Last Updated March 1, 2025

Franklin, Franklin County, Ohio Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.64%

Estimate Property Tax Bill

$177

$164

Ownwell’s Franklin Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Franklin with just two data points. By entering your property's estimated assessed value, our calculator applies Franklin’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your 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 Franklin, Franklin County, Ohio

Local government entities set tax rates, which can vary widely within a state. This is because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

In Franklin, Ohio, the effective property tax rate is significantly higher than the national median of 1.02%. This places a considerable burden on homeowners compared to other regions across the country. The median property tax rate in Franklin stands at 2.64%, which is not only the highest in the county but also the same across various zip codes. This means residents in Franklin are paying more than double the national median property tax rate. Understanding these rates is crucial for property owners who are looking to manage their expenses effectively. By comparing Franklin’s rates to state and national medians, property owners can make informed decisions about their financial planning and potential tax appeals.

Property Tax Rates Across Franklin, Franklin County, Ohio

Source: Ownwell

1.61%

2.13%

2.66%

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 Franklin Tax Rate

2.64%

Median Effective Franklin County Tax Rate

2.10%

Median Effective Ohio Tax Rate

1.80%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Franklin, Franklin County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
45005	2.64%	2.64%	2.64%	2.65%	4.02%

Source: Ownwell

Property Tax Assessment Values Across Franklin, Franklin County, Ohio

When examining property taxes in Franklin, OH, 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 appraisal district 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. Assessment notices: In Franklin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Franklin. For example, the median home price in Franklin is $6,700, with tax bills ranging significantly across the county. 45005 has the highest median home price at $6,700.

Property Tax Assessment Values Across Franklin, Franklin County, Ohio

Source: Ownwell

$4,400

$265,900

$527,400

Median Franklin Market Value

$6,700

Median Franklin County Market Value

$168,000

Median Ohio Market Value

$133,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Franklin, Franklin County, Ohio

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
45005	$2,120	$4,700	$6,700	$10,900	$14,540

Source: Ownwell

Property Tax Bills Across Franklin, Franklin County, Ohio

In Franklin, OH, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. The local tax rate is applied to this assessed value to determine the annual property tax bill. In Franklin County, the median property tax bill is notably lower than the national median, with a figure of $188. This is quite modest compared to the national median property tax bill of $2,400. However, homeowners in the 90th percentile could see tax bills as high as $520. Factors such as property location, size, and improvements can influence the assessed value, impacting the overall tax bill. Homeowners can find these costs burdensome, especially if their property's assessed value increases unexpectedly. Ownwell offers valuable assistance by providing property tax appeal and exemption services. By leveraging expert knowledge and data-driven insights, Ownwell helps homeowners potentially lower their tax liabilities, ensuring they only pay their fair share and can maximize their savings.

Property Tax Bills Across Franklin, Franklin County, Ohio

Source: Ownwell

$85

$6,607

$13,129

Median Franklin Tax Bill

$188

Median Franklin County Tax Bill

$3,472

Median Ohio Tax Bill

$2,396

Median United States Tax Bill

$2,400

Property Tax Bills Across Franklin, Franklin County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
45005	$60	$137	$188	$301	$520

Source: Ownwell