Timber Island, Franklin County, Florida Property Taxes

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Property Taxes in Timber Island, Florida

Median Timber Island, Florida effective property tax rate: 1.58%, significantly higher than the national median of 1.02%, and higher than the Florida state median of 1.10%.
Median Timber Island, Florida home value: $187,276
Median annual Timber Island, Florida tax bill: $2,866, higher than the national median property tax bill of $2,400.

How are property taxes in Franklin calculated?

Property taxes in Timber Island, Florida 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 Timber Island's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Timber Island, knowing local tax details benefits homeowners and investors.

Last Updated April 13, 2026

Timber Island, Franklin County, Florida Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.58%

Estimate Property Tax Bill

$2,959

$2,746

How Does the Timber Island Property Tax Calculator Work?

Use this Timber Island property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Timber Island's median effective tax rate of 1.58% — based on actual property records in Franklin County — to generate your estimate.

Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Timber Island's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.

Your bill may vary by ZIP code within Timber Island: rates range from local differences in school district levies and assessment districts.

For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Timber Island.

About Timber Island Property Taxes

About Property Taxes in Timber Island, Franklin, Florida

Timber Island’s median effective property tax rate of 1.58% is higher than the Florida state median of 1.10% and higher than the national median of 1.02%. This rate reflects the Franklin County base levy combined with local school district levies and Municipal Service Benefit Units (MSBUs) that vary by subdivision throughout the city.

Property tax rates are not uniform across Timber Island. Homeowners in the highest ZIP code carry a median effective rate of 1.58%, while those in the lowest pay 1.58%. This spread — 0 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Franklin County. Understanding which part of Timber Island you live in can make a meaningful difference to your annual tax bill.

Timber Island homeowners who believe their assessed value is too high can file a formal appeal with the local Property Appraiser before the September 4, 2026 deadline each year.

If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.

Property Tax Rates Across Timber Island, Franklin County, Florida

As noted earlier, local government entities set tax rates, which can vary widely within a state.

Why? Because 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 Timber Island's effective property tax rate to other cities in Florida and the median property tax rates in Florida and the U.S.

Property Tax Rates Across Timber Island, Franklin County, Florida

Source: Ownwell

0.74%

0.84%

0.95%

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 Timber Island Tax Rate

1.58%

Median Effective Franklin County Tax Rate

0.82%

Median Effective Florida Tax Rate

1.10%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Timber Island, Franklin County, Florida

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile

Source: Ownwell

Property Tax Assessment Values Across Timber Island, Franklin County, Florida

When examining property taxes in Timber Island, Florida, 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 Franklin County property appraiser 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.

Assessment notices:

In Franklin County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of March.

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. For Timber Island, the median home price is $187,276, with tax bills ranging from $2,614 at the 25th percentile to $4,000 at the 90th percentile. The median tax bill is $2,866, compared with the national median property tax rate of 1.02% and the national median property tax bill of $2,400.

Property Tax Assessment Values Across Timber Island, Franklin County, Florida

Source: Ownwell

$82,988

$352,376

$621,764

Median Timber Island Market Value

$187,276

Median Franklin County Market Value

$282,446

Median Florida Market Value

$310,033

Median United States Market Value

$235,294

Property Tax Assessment Values Across Timber Island, Franklin County, Florida

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile

Source: Ownwell

Property Tax Bills Across Timber Island, Franklin County, Florida

How are property tax bills calculated in Timber Island?

Property tax bills in Timber Island are based on the assessed value of a home and the local tax rates set by taxing authorities in Franklin County, Florida. The county determines how much of a property’s market value is taxable, and that assessed value is then multiplied by the applicable tax rate to calculate the bill. Factors such as exemptions, local levies, and changes in market conditions can all affect the final amount a homeowner owes.

For a home with a median value of $187,276, the tax bill can vary widely depending on the property and the taxing district. In Timber Island, the 25th percentile tax bill is $2,614, the 75th percentile is $3,110, and the 90th percentile reaches $4,000. That means some homeowners pay close to the national median property tax bill of $2,400, while others pay significantly more. Because property taxes are recurring, even modest changes in assessed value or tax rates can have a meaningful impact on household budgets.

Property Tax Bills Across Timber Island, Franklin County, Florida

Source: Ownwell

$621

$2,581

$4,541

Median Timber Island Tax Bill

$2,866

Median Franklin County Tax Bill

$2,305

Median Florida Tax Bill

$3,263

Median United States Tax Bill

$2,400

Property Tax Bills Across Timber Island, Franklin County, Florida

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile

Source: Ownwell

Don't miss the deadline to petition!

Dates
Appeal Deadline	September 4

Links
Franklin Property Appraiser
Website	franklin-search.gsacorp.io

Frequently Asked Property Tax Questions in Timber Island, Florida

How are property taxes calculated in Timber Island, Florida?

Property taxes in Timber Island, Florida are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.

How do I appeal my property taxes in Timber Island, Florida?

To appeal your property taxes in Timber Island, Florida, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.

What property tax exemptions are available in Timber Island, Florida?

Common property tax exemptions in Timber Island, Florida include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.

When are property taxes due in Timber Island, Florida?

Property tax deadlines in Timber Island, Florida vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.

How can Ownwell help reduce my property taxes in Timber Island, Florida?

Ownwell provides professional property tax appeal services in Timber Island, Florida. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.