Franklin County NC 2011-2012 Property Tax Guide
How much do property taxes cost for Franklin County NC new homes?
Whether you're considering relocating from the other side of the country or the other side of the Triangle, you've probably wondered what the yearly property taxes might be for your new home.
Where is Franklin County located? Franklin County sits just northeast of Wake County.
Franklin County is home to Bunn, Franklinton, Louisburg, Youngsville, and parts of Wake Forest.
When were Franklin County NC property values last adjusted (assessed)?
Franklin County revalues all real estate at least every eight years, per NC requirements.
This procedure allows the Tax Department to adjust the appraised value of real estate to reflect the property's true value in light of changing real estate market conditions.
The chart below shows the 2011 Franklin County property tax rates. If you are relocating to a home inside a town or fire district, the tax rate will generally be higher. If your new home will be outside of town boundaries, the tax rate can be low.
The county rate gets combined with either the fire district rate or the town rate, depending on where the home for sale is located.
The Franklin County property tax chart is not as confusing as it looks. The tax rates are always based on the assessed value of the home, not the asking price, so you'll want to look up the assessed value, or ask your agent for it.
How do I use this table?
1. Take the assessed value of the property.
2. Divide by 100.
3. Multiply by the combined 2011 tax rate.
4. This will give you the yearly tax amount, per 2011 fiscal year rates.
For example, Wake Forest has a town rate of 0.51, and the Franklin County rate is 0.8725.
Add the two together - the total tax rate for Wake Forest, NC is 1.3825.
To get up-to-date Franklin County tax information, visit the Franklin County Tax Records site.
This table gives sample property tax bills for all the towns in Franklin County: Wake Forest, Bunn, Franklinton, Louisburg, and Youngsville.
Where Should I Live to Get the Lowest Property Tax Rate?
Your tax bill can be lower if your home or property is not actually within a municipality, or town. If this is the case, you'll pay just the County rate, plus most likely a fire district tax.
What County Will My New Home Be In?
When looking at properties, don't take the city address for granted - you could be in a different county, with different tax rates, depending on where exactly the property is located. For example, a Wake Forest home may lie in either Wake County or Franklin County.
Check the Address of Your New Home
If there's a particular home that you're considering, you can go directly to the Franklin County Tax Records site, type in the address, and see the assessed value of the property.
The reassessments have just been completed, though, and Franklin County is not noted for 100% accuracy in assessing the values of property, so what you see may be either higher or lower than the asking value of the property.
If there is a discrepancy, don't be afraid to ask your real estate agent to pull comps for you!
Want to Compare Property Taxe Rates?
Compare property tax rates in Franklin County to other counties in the area here:
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