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 tax in Franklin County is calculated by applying a local tax rate to the assessed value of your property. The process begins with the Property Assessor, who determines the appraised value of your real estate based on market data. In Tennessee, residential property is assessed at 25% of its appraised value. This resulting figure is known as the "assessed value." The Franklin County Commission then sets the tax rate (often expressed as a millage rate or per $100 of assessed value) annually to fund local government operations, schools, and infrastructure. To estimate your tax bill, multiply your assessed value by the current tax rate and divide by 100.

Available Exemptions

The state of Tennessee offers several property tax relief programs designed to assist eligible homeowners. These programs are subject to income limitations and specific eligibility criteria set by the state legislature:

• Tax Relief Program: Available to low-income elderly residents (age 65 and older), disabled homeowners, and disabled veterans. This program may provide a reimbursement for a portion of the taxes paid.
• Property Tax Freeze Program: Eligible seniors (age 65 and older) may apply to "freeze" the tax amount on their primary residence at the base year level, protecting them from future tax increases.
• Disabled Veteran Exemption: Veterans with a 100% permanent and total service-connected disability, or their surviving spouses, may be eligible for a significant exemption on the value of their primary residence.

Applications for these programs must be filed annually with the Trustee’s office. We recommend contacting the Franklin County Trustee to verify current income thresholds and documentation requirements.

Payment Schedule & Deadlines

Property taxes in Franklin County are due annually. Tax bills are typically mailed in the fall, and the deadline for payment without penalty is February 28 of the following year. It is important to note the following regarding your payments:

• Deadline: Payments must be postmarked or received by the close of business on the last day of February to be considered timely.
• Late Penalties: Payments received after the deadline are subject to interest and penalties, which accrue monthly. Failure to pay property taxes can eventually lead to a tax lien and potential property foreclosure.
• Installment Options: While the full amount is due by the end of February, some taxpayers may choose to make partial payments throughout the year; however, all outstanding balances must be cleared by the deadline to avoid interest charges.

Appealing Your Assessment

If you believe the appraised value of your property is incorrect, you have the right to appeal. The process begins with an informal review with the Franklin County Assessor of Property. If you are unsatisfied with the outcome, you may formally appeal to the County Board of Equalization. This board meets annually to hear taxpayer grievances regarding property valuations. You must provide evidence, such as recent appraisals or sales data of comparable properties, to support your claim. It is essential to act quickly, as there are strict statutory deadlines for filing appeals once assessment notices are issued.