, owe an average tax rate of 0.88%, which is slightly above the state average of 0.78% but lower than the national average of 1.1%. Based on Franklin County’s median home value, residents can expect to owe about $1,070 in property taxes annually.

Property tax is a tax on real property, including land, homes, and commercial buildings. The tax amount varies by county and from year to year. If you’re wondering how your rates are calculated, how to file your taxes, and what exactly that money funds, you’ve come to the right place.

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Property tax 101

Let’s start by summarizing the basics of property taxes:

Property taxes are determined by your local government’s budgetary needs and your property’s market value

Buildings, homes, land, and improvements to land will be assessed for property taxes

Always pay your property taxes on time or you may get hit with a late fee

Property taxes can be deducted from your income tax returns

Market conditions cause fluctuations in property taxes so your amount owed may vary from year to year

Most of your property tax money collected goes directly to public services like law enforcement, fire departments, and public school/library systems.

MORE: Is car insurance tax deductible?

What is the property tax rate in Franklin County?

Franklin county’s average tax rate is 0.88%—which is higher than the state average but significantly lower than the national average.

Based on that rate, a homeowner in Franklin County should estimate about $1,070 per year in property taxes for a home around the median value of $121,000.

You can browse the user-friendly

Franklin County website

for more detailed information on your property taxes, the tax collector, and how and when to make payments.

How Franklin County property taxes are determined

Franklin County property taxes are determined by assessing both “real property” and “personal property”. Real property includes land, buildings, other structures, and any improvements or additions to the property. Personal property includes large property holdings like a mobile home, recreational vehicles, or a boat.

The Tax Assessor is the local official responsible for assessing the taxable value of all properties within Franklin County based on their fair market value appraisals.

Property tax is calculated by multiplying the assessed value of your property with the corresponding state

tax rates

. This will determine your exact amount of property taxes owed.

If you think your property was overvalued, you can

file an appeal

anytime between January 1 and the end of May (before the Board of Equalization and Review meets to review appeals).

If you own your property and it is your main residence, you may qualify for a homestead exemption. This can significantly lower your property tax bill. In North Carolina, a homestead exemption is available for seniors ages 65 or older and permanently disabled individuals.

What do Franklin County property taxes pay for?

Franklin County directs revenues from property taxes towards a variety of services, including:

Public library system

Police departmental needs

Fire departmental needs

K-12 public education systems

If you have questions or concerns about how your property taxes are spent, you can contact Franklin County's tax assessor offices at (828) 524-2516 ext. 307 or by emailing sscruggs@franklinnc.com.

MORE: How to deduct a car accident from your taxes

How to pay property taxes in Franklin County

Franklin County property taxes are due by September 1 and can be paid through January 5 of the following year without penalty or interest.

There are many ways to pay your taxes in Franklin County. You can pay online, by phone, in person, or through your mortgage. Here’s how:

Online: You can pay online by using Franklin County’s

third party processing service

In person: Go to 215 E. Nash Street Louisburg, NC 27549

By phone: Call 1-877-768-4775

Through your mortgage: Franklin County accepts tax payments made through your mortgage (typically via an escrow account managed by your lender)

MORE:

North Carolina car insurance laws

How to save money on homeowners and car insurance in North Carolina

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FAQs

When are property taxes due in Franklin County?

Franklin County property taxes are due by September 1 and can be paid through January 5 of the following year without penalty or interest.

How do I get my North Carolina property tax statement?

Property tax statements for Franklin property owners are mailed in August of each year.

If you do not receive your tax statement, please contact the Franklin County Tax Collector’s Office during regular office hours to request a statement of taxes due.

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