Average Tax Assessment in Franklin County
Real Estate Values and Property Tax Valuation in Franklin County, Texas
Franklin County has a total of 5,437 properties with a cumulative value of $1.1B. This represents 0.05% of all real estate value in Texas. Property taxes in Franklin County totaled $15.7M, with an average property tax rate of 1.38%, lower than the state average of 1.69%. The average homeowner in Franklin County pays $2,937 in property taxes, compared to the state average of $4,015. Property taxes are based on the assessed value of the property, which is typically lower than the market value.
The property tax timeline in Texas begins on January 1st, when the property valuation date is set. Property value notices are issued between April and May, and the property tax appeal deadline is May 15th or 30 days after the notices are issued. The real property tax bill is due on January 31st for the preceding year's gross tax bills.
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 | |
|---|---|
| Real Property Tax Bill Due (1st of #): | January 31st, Gross tax bills for preceding year |
| Property Valuation Date: | January 1st |
| Property Value Notices Issued: | April - May |
| Property Tax Appeal Deadline: | May 15th or 30 days after notices are issued |
| Property Tax Bills Issued: | October 1st |
| Available Exemptions | |
|---|---|
| Early Payment Discount | |
| 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 1.38%, which is slightly lower than the average rate for the state of Texas. This rate is applied to the assessed value of a property to calculate the amount of taxes due. Property taxes in Franklin County are collected by the county government and are used to fund public services such as schools, roads, and public safety.
Property tax rates in Franklin County vary across the cities, with Scroggins having the highest effective property tax rate of 1.45%, and Talco having the lowest effective property tax rate of 0.77%. The average property tax bill in Franklin County is $2,937, which is slightly lower than the average property tax bill for the state of Texas. Property taxes in Franklin County are an important source of revenue for the county government and help to fund essential public services.
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 |
|---|---|---|---|---|---|
| Mount Vernon | $25,960 | $56,450 | $109,720 | $222,110 | $467,240 |
| Scroggins | $30,384 | $92,615 | $239,230 | $503,505 | $740,246 |
| Talco | $18,122 | $38,610 | $79,230 | $141,580 | $237,600 |
| Winnsboro | $11,284 | $33,570 | $71,090 | $134,520 | $281,830 |
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 |
|---|---|---|---|---|---|
| Mount Vernon | $250 | $642 | $1,451 | $3,035 | $6,911 |
| Scroggins | $272 | $942 | $3,194 | $7,479 | $11,701 |
| Talco | $91 | $233 | $632 | $1,173 | $2,196 |
| Winnsboro | $78 | $299 | $923 | $1,972 | $3,334 |
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 |
|---|---|---|---|---|---|
| Mount Vernon | 0.96% | 1.14% | 1.32% | 1.37% | 1.48% |
| Scroggins | 0.90% | 1.02% | 1.34% | 1.49% | 1.58% |
| Talco | 0.50% | 0.60% | 0.80% | 0.83% | 0.92% |
| Winnsboro | 0.69% | 0.89% | 1.30% | 1.47% | 1.18% |
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Real Estate Values in Franklin County
The data from Redfin shows that home prices in Franklin County, Texas have decreased by 6.85% from October 2022 to October 2023. This decrease in home prices is accompanied by an increase in home inventory, with the number of homes available for sale increasing from 39 in October 2022 to 71 in October 2023. This suggests that the market in Franklin County is becoming more competitive, with more homes available for buyers to choose from.
Average Home Value in Franklin County, Texas
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 significant part of the local economy, with a total outstanding loan amount of $279.5M. This represents a significant portion of the total home value in the county, indicating that mortgages are a major factor in the local housing market. Additionally, there are 1.4K outstanding loans in Franklin County, demonstrating the prevalence of mortgages in the area.
The median mortgage rate in Franklin County varies across cities, ranging from 3.99% in Scroggins to 4.18% in Talco. This indicates that there is a significant variation in mortgage rates across the county, which could have a significant impact on the affordability of homes in the area. Overall, mortgages in Franklin County are an important part of the local economy, and the variation in rates across cities could have a significant impact on the local housing market.
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 |
|---|---|---|---|---|---|
| Mount Vernon | $28,942 | $55,405 | $112,424 | $229,572 | $372,899 |
| Scroggins | $45,685 | $96,381 | $193,086 | $336,703 | $485,362 |
| Talco | $15,353 | $45,391 | $78,525 | $148,205 | $187,396 |
| Winnsboro | $21,516 | $38,721 | $79,411 | $148,304 | $242,560 |
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 |
|---|---|---|---|---|---|
| Mount Vernon | 2.90% | 3.50% | 4.07% | 4.83% | 6.00% |
| Scroggins | 2.90% | 3.44% | 3.99% | 4.70% | 5.92% |
| Talco | 2.90% | 3.61% | 4.18% | 4.65% | 5.87% |
| Winnsboro | 3.00% | 3.62% | 4.09% | 4.80% | 5.91% |
Housing Expenses in Franklin County, Texas
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