Franklin, Izard County, Arkansas Property Taxes

Name: Property Tax Bills Across Franklin, Izard County, Arkansas
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median FRANKLIN, AR effective property tax rate: 0.59%, significantly lower than the national median of 1.02%, but lower than the Arkansas state median of 0.84%.
Median FRANKLIN, AR home value: $52,250
Median annual FRANKLIN, AR tax bill: $287, $2,113 lower than the national median property tax bill of $2,400.

How are property taxes in Izard calculated?

Property taxes in FRANKLIN, AR are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding FRANKLIN’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in FRANKLIN, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Franklin, Izard County, Arkansas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.59%

Estimate Property Tax Bill

$308

$286

Ownwell’s Franklin Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Franklin with just two data points. By entering your property's estimated assessed value, our calculator applies Franklin’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Izard County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Franklin, Izard County, Arkansas

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Franklin’s effective property tax rate to other cities in Arkansas and the median property tax rates in Arkansas and the U.S. Franklin, located in Izard County, has an effective property tax rate of 0.59%. This is significantly lower than the national median property tax rate of 1.02%, offering a more affordable property tax environment for residents. The median property tax bill in Franklin is also likely to be lower than the national median of $2,400. This lower tax burden can make Franklin an attractive location for homeowners looking for cost-effective living. However, it’s crucial for property owners to stay informed about potential changes in tax rates and explore opportunities for tax appeals or exemptions to ensure they are not overpaying.

Property Tax Rates Across Franklin, Izard County, Arkansas

Source: Ownwell

0.63%

0.80%

0.97%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Franklin Tax Rate

0.59%

Median Effective Izard County Tax Rate

0.75%

Median Effective Arkansas Tax Rate

0.84%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Franklin, Izard County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
72512	N/A	N/A	N/A	N/A	N/A
72536	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Franklin, Izard County, Arkansas

When examining property taxes in Franklin, Arkansas, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Izard County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Izard County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Franklin. For example, the median home price in Franklin is $52,250, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Franklin, Izard County, Arkansas

Source: Ownwell

$24,500

$97,500

$170,500

Median Franklin Market Value

$52,250

Median Izard County Market Value

$60,000

Median Arkansas Market Value

$113,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Franklin, Izard County, Arkansas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
72512	N/A	N/A	N/A	N/A	N/A
72536	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Franklin, Izard County, Arkansas

In Franklin, located in Izard County, AR, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Franklin face property tax bills that vary significantly, with the 25th percentile at $136 and the 75th percentile reaching $494, indicating a broad range in tax liabilities. This variability can impact homeowners' financial planning, especially when compared to the national median property tax bill of $2,400. Factors influencing the tax bill include the assessed value of the property and the local tax rate. These elements combined determine the annual property tax obligation for homeowners.

Ownwell assists homeowners by providing expert property tax appeal services. By leveraging our knowledge of local tax regulations and market trends, we help ensure that property assessments are fair and accurate. This can lead to significant savings on property tax bills, alleviating the financial burden on homeowners and allowing them to allocate resources more effectively.

Property Tax Bills Across Franklin, Izard County, Arkansas

Source: Ownwell

$120

$678

$1,235

Median Franklin Tax Bill

$287

Median Izard County Tax Bill

$375

Median Arkansas Tax Bill

$877

Median United States Tax Bill

$2,400

Property Tax Bills Across Franklin, Izard County, Arkansas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
72512	N/A	N/A	N/A	N/A	N/A
72536	N/A	N/A	N/A	N/A	N/A

Source: Ownwell