Rate Breakdown

Property taxes in Franklin County are calculated by multiplying the assessed value (minus exemptions) by the total local millage rate.

How Property Tax Works in Franklin County

Property taxes in Franklin County are determined by a combination of the property's assessed value and the total tax rate (millage) set by local taxing jurisdictions. The process begins with the County Assessor, who determines the "market value" of your real estate as of January 1 of the assessment year. Missouri law mandates that residential property is assessed at 19% of its market value, agricultural property at 12%, and commercial property at 32%. This resulting figure is known as the "assessed value."

The total tax rate applied to your assessed value is a composite rate, representing the sum of levies from various local entities, including school districts, the county government, fire protection districts, and ambulance districts. These rates are expressed in dollars per $100 of assessed valuation. To calculate your estimated tax, multiply your assessed value by the combined tax rate and divide by 100.

Available Exemptions

Missouri offers several relief programs designed to lower the tax burden for qualifying homeowners. While exemptions are often administered at the state level, they directly impact your final tax bill in Franklin County:

• Senior Citizen Property Tax Relief (Circuit Breaker): This program provides a credit to seniors (age 65+) and 100% disabled individuals who meet specific income guidelines, effectively capping the tax increase on their primary residence.
• Disabled Veterans Property Tax Credit: Veterans with a 100% service-connected disability rating may be eligible for a total exemption from property taxes on their primary residence.
• Homestead Exemption: While Missouri does not have a traditional "homestead exemption" that reduces assessed value, the state’s "Tax Freeze" legislation for seniors allows eligible homeowners to lock in their property tax liability at the amount paid in the year they became eligible.

Payment Schedule & Deadlines

Property tax bills in Franklin County are mailed annually, typically in November. Payment is due in full by December 31 of the current tax year to avoid penalties. Franklin County generally does not offer installment plans for current-year taxes; the full amount must be remitted by the deadline.

Failure to pay by December 31 results in the accrual of interest and statutory penalties. If taxes remain unpaid into the following year, the property may become subject to the delinquent tax sale process, which can eventually lead to a tax lien or foreclosure. It is essential to ensure your mailing address is current with the County Collector’s office to avoid missing your statement.

Appealing Your Assessment

If you believe the assessed value of your property is inaccurate or exceeds its fair market value, you have the right to appeal. The process begins with an informal review with the Franklin County Assessor’s office. If the issue remains unresolved, you may file a formal appeal with the Franklin County Board of Equalization. Documentation such as recent appraisals, sales comparisons of similar homes, or photographs of property damage is critical to supporting your claim. Deadlines for filing appeals are strictly enforced, usually occurring in the spring, so monitor official county communications closely.