The current property tax rate in Franklin County, New York, is 2.08%, which is among the highest in the nation. Residents in this county pay about $1848 per year for a home with a median value of $88,000.
When you buy your first home, it can come as a not-so-pleasant surprise when you get your first property tax bill. Just like your mortgage and home insurance
, annual property taxes are one of the unavoidable costs of owning a home or business. Even if you can’t avoid property tax, you can plan for it so that things go more smoothly when you get your bill. Super app and licensed home and car insurance
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Property tax 101
Property taxes are a required tax levied upon property owners by their local government. These taxes are collected and used to pay for a variety of local services including schools, infrastructure, government, and emergency services.
Here is a breakdown of the basic process:
Property taxes are administered by local government and are based on a percentage of the current assessed fair market value of your property
The amount of property tax owed can fluctuate from year to year based on the housing market—especially if you renovate your home or if your home is damaged during the year
Your county assessor will evaluate your property each year to determine your tax bill
The taxes pay for local entities and services like roads, water and sewage, education, emergency services, and local government
As a property owner, you can appeal the assessor’s valuation of your property if you believe it was incorrectly evaluated
What is the property tax rate in Franklin County?
Franklin County’s property tax rate is currently 2.08% of a home’s assessed value. This is much higher than the New York state average of 1.23%. Franklin County residents pay about 3.63% of their annual income to cover their property tax bills.
New York has processes in place to protect landowners. Here are some examples:
The county is required to hold open sessions if a property tax increase is being discussed
If your local tax rate is questionable, or if you want a better understanding of how tax dollars are spent, you can attend public hearings and request a review
The third Thursday in May is Grievance Day. On this day, there are open hearings to determine if your property assessment was fair/correct
How Franklin County property taxes are determined
In Franklin, the county assessor is responsible for assigning a value to each property in the county. The tentative assessment is generally completed by May 1st.
Property values are shared with the Real Property Tax Services Department, which multiplies a percentage of the property value by the current property tax rate to determine your property tax amount, usually by June 1.
Each year’s tax rate is determined by city and county governments who project the county’s budget and set the rates at a level that will cover the projected expense.
As a resident of Franklin county, you have the right to contest your assessment
if you believe it to be incorrect or unfair. What do Franklin County property taxes pay for?
Property taxes are the main source of revenue for many local public works. In New York, here are a few of the things you can expect your property tax to pay for:
K-12 schools and education
Emergency services including EMT, police, and fire departments
Water, garbage, and sewer system improvements
Streetlights, sidewalks, and public transit
Municipal workers’ salaries
How to pay property taxes in Franklin County
Property taxes for the previous year are due on January 31. If tax payments are delinquent, you will be charged additional fees and a lien may be placed on your property.
There are a couple of options for paying your property tax bill in the state of New York. In Franklin County, you can pay your tax bill via mail or in person at:
Franklin County Treasurer’s Office
You can also pay any New York State tax bill online here
by creating an account or setting up a wire transfer from your bank. How to save money on home and car insurance in New York
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