Franklin, Warren County, Ohio Property Taxes
Median Franklin, OH effective property tax rate: 1.62%, significantly higher than the national median of 1.02%, but lower than the Ohio state median of 1.80%.
Median Franklin, OH home value: $141,010
Median annual Franklin, OH tax bill: $2,241, $159 lower than the national median property tax bill of $2,400.
How are property taxes in Warren 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, Warren County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.62%
Estimate Property Tax Bill
$2,284
$2,120
Property Tax Rates Across Franklin, Warren County, Ohio
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results 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. Below, you can compare Franklin’s effective property tax rate to other cities in Ohio and the median property tax rates in Ohio and the U.S.
In Franklin, located in Warren County, the property tax rate is notably higher than the national median of 1.02%. This places a significant financial responsibility on property owners, especially when compared to the national median property tax bill of $2,400. The uniformity in the tax rate across different zip codes in Franklin suggests a consistent approach to property tax assessment within the area. Understanding these rates is crucial for homeowners seeking to manage their property tax liabilities effectively. By staying informed, residents can explore potential tax appeal or exemption opportunities to alleviate their financial burden.
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
1.62%
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 Warren County Tax Rate
1.67%
Median Effective Ohio Tax Rate
1.80%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Franklin, Warren County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45005 | 1.35% | 1.47% | 1.62% | 1.80% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Franklin, Warren County, Ohio
When examining property taxes in Franklin, Ohio, 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 Warren County Auditor 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 Warren 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 $141,010, with tax bills ranging significantly across the county. 45005 has the highest median home price at $141,010.
Property Tax Assessment Values Across Franklin, Warren County, Ohio
Source: Ownwell
$4,050
$180,970
$357,890
Median Franklin Market Value
$141,010
Median Warren County Market Value
$234,580
Median Ohio Market Value
$133,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Franklin, Warren County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45005 | $50,900 | $98,210 | $141,010 | $194,115 | $272,980 |
Source: Ownwell
Property Tax Bills Across Franklin, Warren County, Ohio
In Franklin, Ohio, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in Franklin, located in Warren County, experience a median property tax bill of $2,241, aligning closely with the national median of $2,400. Tax bills can vary significantly, with the 25th percentile at $1,563 and the 90th percentile reaching $4,343. These variations depend on factors such as property size, location, and improvements, which can influence the assessed value. Higher property values generally lead to higher tax bills, impacting homeowners' overall financial planning.
Ownwell can assist Franklin homeowners by identifying potential savings on their property tax bills. By analyzing property assessments and comparing them with similar properties in the area, Ownwell can help challenge over-assessments. This service can be especially beneficial for those whose tax bills fall in the higher percentiles, potentially leading to significant savings and easing the financial burden of property taxes.
Median Franklin Tax Bill
$2,241
Median Warren County Tax Bill
$3,873
Median Ohio Tax Bill
$2,396
Median United States Tax Bill
$2,400
Property Tax Bills Across Franklin, Warren County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45005 | $835 | $1,563 | $2,241 | $3,183 | $4,343 |
Source: Ownwell