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, Virginia, are based on the assessed value of real estate and personal property. The county assesses properties annually, determining their fair market value as of January 1st. This assessment is conducted by the Commissioner of the Revenue and is used to calculate the tax liability. The tax rate, known as the millage rate, is set by the Board of Supervisors and is applied per $100 of assessed value. For example, if the millage rate is $0.85 and your property is assessed at $200,000, your annual tax would be $1,700. Taxes fund local services such as schools, public safety, and infrastructure.

Available Exemptions

Franklin County offers several exemptions to reduce property tax burdens for eligible residents. These include:

• Homestead Exemption: Available to homeowners who use their property as their primary residence. This may reduce the taxable value of the property.
• Senior Citizen Exemption: Residents aged 65 or older may qualify for a reduction based on income and net worth limitations.
• Disability Exemption: Individuals with permanent disabilities may be eligible for tax relief, depending on income and disability status.
• Veteran Exemption: Veterans with a 100% service-connected disability or their surviving spouses may qualify for full or partial exemption.

Applications for exemptions must be submitted to the Commissioner of the Revenue, and supporting documentation is required.

Payment Schedule & Deadlines

Property taxes in Franklin County are typically due in two installments: the first half by June 5th and the second half by December 5th. Payments can be made online, by mail, or in person at the Treasurer’s Office. If taxes are not paid by the deadlines, penalties and interest will accrue. Delinquent accounts may also face liens or foreclosure. For those struggling to pay, the county offers payment plans upon request, but approval is subject to specific conditions.

Appealing Your Assessment

If you believe your property has been overassessed, you can appeal the valuation. The process begins with contacting the Commissioner of the Revenue to request a review. If unresolved, you may file a formal appeal with the Franklin County Board of Equalization. Appeals must be submitted within 30 days of the assessment notice. Be prepared to provide evidence, such as recent sales of comparable properties or an independent appraisal, to support your case. If dissatisfied with the Board’s decision, further appeals can be made to the Virginia Circuit Court.