Average Tax Assessment in Franklin County
Real Estate Values and Property Tax Valuation in Franklin County, Washington
Franklin County has 24,100 properties with a cumulative value of $6.9B, representing 0.60% of all real estate value in Washington. The average property tax rate in Franklin County is 0.83%, which is lower than the state average of 1.01%. Property taxes in Franklin County totaled $57.0M, with the average homeowner paying $2,365 in property taxes compared to the state average of $4,796. Property taxes are calculated based on the assessed value of the property.
The property tax timeline in Washington begins on January 1st when the property valuation date is set. Property value notices are issued from May to December and the property tax appeal deadline is July 1st or 30-60 days after the notice is issued. Finally, property tax bills are issued on February 14th.
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: | May - December |
| Property Tax Appeal Deadline: | July 1st or 30-60 days after notice |
| Property Tax Bills Issued: | February 14th |
| Real Property Tax Bill Due (1st of #): | April 30th |
| Real Property Tax Bill Due (2nd of #): | October 31st |
| Available Exemptions | |
|---|---|
| Senior | Available |
| Disabled | Available |
| Homestead | Not Available |
| Veteran | 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 0.83%, which is slightly lower than the state average of 0.86%. 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 used to fund public services such as schools, roads, and public safety.
Property tax rates in Franklin County vary across cities. Connell has the highest effective property tax rate at 0.87%, while Mesa has the lowest at 0.78%. Property taxes in Franklin County are generally lower than the state average, making it an attractive place to live for those looking to save on taxes.
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.
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Franklin County.
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.
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Real Estate Values in Franklin County
The median home price in Franklin County, Washington decreased by 5.33% from October 2022 to October 2023, from $470.0K to $444.9K. This decrease in home prices was accompanied by an increase in home inventory, from 204 in October 2022 to 245 in October 2023. This suggests that the housing market in Franklin County is becoming more competitive, with more homes available for buyers to choose from.
Average Home Value in Franklin County, Washington
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
Franklin County has a total of $2.6 billion in outstanding home mortgage loans. This represents 13.5 thousand loans, or approximately 10% of the total home value in the county. The median mortgage rate in Franklin County varies significantly across cities, with Mesa having the highest rate of 4.4% and Pasco having the lowest rate of 4%. This variation in rates can have a significant impact on the affordability of a home loan and the amount of money that a borrower will have to pay in interest over the life of the loan.
Overall, mortgages in Franklin County are a significant source of financing for home purchases and refinancing. With a wide range of rates available, borrowers can find a loan that best fits their needs and budget. It is important for borrowers to shop around and compare rates to ensure that they are getting the best deal possible.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Franklin County by city.
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Franklin County.
Housing Expenses in Franklin County, Washington
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