Average Tax Assessment in Franklin County
Real Estate Values and Property Tax Valuation in Franklin County, Florida
Franklin County has 8,288 properties with a cumulative value of $2.1B, representing 0.10% of all real estate value in Florida. The average property tax rate in Franklin County is 1.02%, which is lower than the state average of 1.34%. Property taxes in Franklin County totaled $21.9M, with the average homeowner paying $2,641 in property taxes compared to the state average of $3,597. Property taxes are calculated based on the assessed value of the property.
In Florida, property values are assessed on January 1st. Property value notices are issued in August and property tax appeal deadlines are typically 25 days from the date of the value notices, which is usually in September. Property tax bills are issued on November 1st.
Updated November 01, 2023
| Important Links | |
|---|---|
| Franklin Clerk | (903) 537-4252 6 |
| TexasFile Clerk Records | - |
| Franklin County Clerk | (502) 875-8703 |
| Franklin Treasurer | (717) 261-3120 |
| Important Dates | |
|---|---|
| Property Valuation Date: | January 1st |
| Property Value Notices Issued: | August |
| Property Tax Appeal Deadline: | September or 25 days from date of value notices |
| Property Tax Bills Issued: | November 1st |
| Real Property Tax Bill Due (1st of #): | March 31st |
| Available Exemptions | |
|---|---|
| Early Payment Discount | Available |
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Franklin County
Residential Property Taxes by Cities in Franklin County
Franklin County has an average property tax rate of 1.02%, which is slightly lower than the state average of 1.04%. This rate is applied to the assessed value of a property to determine the amount of taxes due. Property taxes in Franklin County are collected by the county government and used to fund public services such as schools, roads, and public safety.
Property tax rates in Franklin County vary across the cities. Apalachicola has the highest effective property tax rate at 1.11%, while Eastpoint has the lowest at 0.98%. Property taxes in Franklin County are generally lower than the state average, making it an attractive option for homeowners looking to save on their tax bills.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Franklin County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Apalachicola | $44,832 | $76,287 | $128,296 | $200,112 | $310,530 |
| Carrabelle | $36,079 | $56,905 | $115,330 | $190,685 | $293,677 |
| Eastpoint | $51,459 | $140,264 | $340,519 | $574,843 | $890,416 |
| Lanark Village | $32,403 | $40,990 | $55,805 | $110,505 | $214,921 |
| Panacea | $100,049 | $172,751 | $300,541 | $428,161 | $596,436 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Franklin County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Apalachicola | $130 | $474 | $1,115 | $2,434 | $4,004 |
| Carrabelle | $195 | $461 | $1,055 | $2,109 | $3,167 |
| Eastpoint | $288 | $1,173 | $3,310 | $5,709 | $9,122 |
| Lanark Village | $159 | $383 | $554 | $1,018 | $2,318 |
| Panacea | $814 | $1,685 | $3,208 | $4,580 | $6,461 |
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Apalachicola | 0.29% | 0.62% | 0.87% | 1.22% | 1.29% |
| Carrabelle | 0.54% | 0.81% | 0.91% | 1.11% | 1.08% |
| Eastpoint | 0.56% | 0.84% | 0.97% | 0.99% | 1.02% |
| Lanark Village | 0.49% | 0.93% | 0.99% | 0.92% | 1.08% |
| Panacea | 0.81% | 0.98% | 1.07% | 1.07% | 1.08% |
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Real Estate Values in Franklin County
The home prices in Franklin County have seen a significant increase from October 2022 to October 2023, with a 19.82% increase in median home price. This is likely due to an increase in demand for homes in the area, as the home inventory in Franklin County has also increased from 177 in October 2022 to 227 in October 2023. This suggests that the housing market in Franklin County is strong and that home prices are likely to continue to increase in the future.
Average Home Value in Franklin County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Franklin County
Last updated: November 2023
Percent Change in New Home Listings in Franklin County
Last updated: November 2023
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Mortgage Rates in Franklin County
Mortgages in Franklin County are a major factor in the local economy, with a total of $571.5 million in outstanding loans. This represents an average of 2.1 thousand loans per county, with a median mortgage rate of 4.2%. The rate varies across cities, with Lanark Village having the highest rate at 4.2%, and Eastpoint having the lowest rate at 3.92%. This variation in rates can have a significant impact on the total value of a home, as the higher the rate, the more expensive the loan. On average, the total outstanding loan amount represents approximately 8.5% of the total home value in Franklin County.
Overall, mortgages in Franklin County are an important part of the local economy, and the variation in rates across cities can have a significant impact on the total value of a home. It is important for potential homebuyers to be aware of the different rates available in order to make the best decision for their financial situation.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Franklin County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Apalachicola | $25,707 | $53,218 | $112,285 | $200,641 | $323,673 |
| Carrabelle | $22,041 | $47,714 | $107,819 | $188,782 | $299,848 |
| Eastpoint | $58,858 | $138,993 | $272,016 | $457,271 | $785,435 |
| Lanark Village | $13,734 | $34,378 | $59,113 | $108,087 | $181,792 |
| Panacea | $57,103 | $129,574 | $224,116 | $330,660 | $435,523 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Franklin County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Apalachicola | 2.93% | 3.53% | 4.13% | 5.63% | 6.36% |
| Carrabelle | 2.80% | 3.30% | 4.00% | 5.50% | 7.00% |
| Eastpoint | 2.80% | 3.20% | 3.92% | 4.70% | 6.12% |
| Lanark Village | 3.05% | 3.80% | 4.20% | 5.25% | 6.29% |
| Panacea | 2.90% | 3.20% | 3.97% | 5.09% | 6.42% |
Housing Expenses in Franklin County, Florida
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