Franklin County, Kentucky Property Taxes
Property Taxes in Franklin County, Kentucky
Median Franklin County effective property tax rate: 1.21%, significantly higher than the national median of 1.02%.
Median Franklin County home value: $127,000
Median annual Franklin County tax bill: $1,328, lower than the national median property tax bill of $2,400.
How are property taxes in Franklin County calculated?
Property taxes in Franklin County 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.
Why does Franklin County have a higher effective property tax rate than the national median? The county’s 1.21% rate is above the national median of 1.02%, even though the median annual tax bill is $1,328.
Can exemptions reduce property taxes in Franklin County? Yes, property tax exemptions can lower the assessed value and reduce the amount owed.
Whether you live in Franklin County or another part of the county, understanding assessed value, market value, and available exemptions can help homeowners and investors save.
Last Updated April 13, 2026
Franklin County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.21%
Estimate Property Tax Bill
$1,537
$1,426
How Does the Franklin County Property Tax Calculator Work?
Use this Franklin County property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Franklin County's median effective tax rate of 1.21% to generate your estimate.
Enter your property's estimated assessed value — the figure the appraisal district assigns for tax purposes, which is typically lower than market value after applicable exemptions. Our calculator uses the median effective rate for a more accurate estimate than the statutory millage rate alone.
Franklin County's median effective tax rate is higher than the national median property tax rate of 1.02%, while the county's median property tax bill is $1,328. That bill is lower than the national median property tax bill of $2,400 by $1,072.
Your actual bill may vary based on your specific exemptions, local school district levies, and any special assessment districts that apply to your property.
For a more precise estimate, scroll down to explore city and ZIP code-level tax rate trends across Franklin County.
Property Tax Rates Across Franklin County, Kentucky
What Are Effective Property Tax Rates Across Franklin County?
Local government entities set tax rates, which vary widely across Franklin County. Each year, the county estimates its budget for public services and divides that total by the assessed value of all taxable property within its jurisdiction.
Below, compare Franklin County's effective property tax rate to other counties in Kentucky or the U.S. median of 1.02%.
Franklin County's median effective rate stands at 1.21%, which is higher than the national median of 1.02%. Within Franklin County, the highest rate is found in Bagdad at 1.21%, while Waddy has the lowest at 1.21%.
These variations reflect differences in local school district levies, special assessment districts assessments, and special district bonds — which compound the base county rate.
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 County Tax Rate
1.21%
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 Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Franklin County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bagdad | 0.53% | 0.83% | 1.21% | 1.21% | 1.21% |
| Frankfort | 0.47% | 0.82% | 1.21% | 1.21% | 1.21% |
| Midway | 0.74% | 0.90% | 1.21% | 1.21% | 1.21% |
| Stamping Ground | 0.75% | 1.21% | 1.21% | 1.21% | 1.21% |
| Waddy | 0.71% | 0.87% | 1.21% | 1.21% | 1.21% |
| Lawrenceburg | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Franklin County, Kentucky
When examining property taxes in Franklin County, 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 valuation process 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 May.
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 County.
For example, the median tax bill in Franklin County is $1,328, with tax bills ranging significantly across the county. Midway has the highest median home price at $186,200.
Property Tax Assessment Values Across Franklin County, Kentucky
Source: Ownwell
$87,000
$136,600
$186,200
Median Franklin County Market Value
$127,000
Median Kentucky Market Value
$116,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Franklin County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bagdad | $27,000 | $63,000 | $87,000 | $132,348 | $190,770 |
| Frankfort | $53,000 | $91,000 | $127,000 | $175,000 | $252,000 |
| Midway | $21,500 | $108,750 | $186,200 | $304,445 | $465,413 |
| Stamping Ground | $15,476 | $47,000 | $95,000 | $170,624 | $211,794 |
| Waddy | $89,826 | $119,577 | $180,773 | $264,733 | $331,895 |
| Lawrenceburg | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Franklin County, Kentucky
Property tax bills in Franklin County are based on the assessed value of a home and the local tax rate applied to that value. With a median home price of $127,000, the bill can vary widely depending on where a property is located and how it is assessed relative to similar homes.
The county’s tax bills show a broad range: the 25th percentile is $785, the 75th percentile is $1,915, and the 90th percentile is $2,836. That means many homeowners pay less than the national median property tax bill of $2,400, but some pay more depending on their home’s assessed value and local taxing jurisdictions.
Location also matters within the county. The highest median tax bill is $2,060 in Midway, while the lowest median tax bill is $964 in Bagdad. For homeowners, this means property taxes can affect monthly housing costs and long-term affordability, even among homes with similar market values.
Median Franklin County Tax Bill
$1,328
Median Kentucky Tax Bill
$1,071
Median United States Tax Bill
$2,400
Property Tax Bills Across Franklin County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bagdad | $284 | $506 | $964 | $1,593 | $2,243 |
| Frankfort | $359 | $785 | $1,328 | $1,909 | $2,836 |
| Midway | $394 | $945 | $2,060 | $3,692 | $5,867 |
| Stamping Ground | $303 | $648 | $966 | $1,994 | $2,515 |
| Waddy | $711 | $1,304 | $1,855 | $2,755 | $4,051 |
| Lawrenceburg | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | May 18 |
Links | |
|---|---|
| Franklin Tax Assessor | |
| Website | qpublic.schneidercorp.com |