Franklin, Franklin County, Nebraska Property Taxes

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

Median Franklin, NE effective property tax rate: 1.90%, significantly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median Franklin, NE home value: $53,718
Median annual Franklin, NE tax bill: $969, $1,431 lower than the national median property tax bill of $2,400.

How are property taxes in Franklin calculated?

Property taxes in Franklin, NE 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, Franklin County, Nebraska Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.9%

Estimate Property Tax Bill

$1,021

$947

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 Franklin. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Franklin, Franklin County, Nebraska

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 Franklin's effective property tax rate to other cities in Nebraska and the median property tax rates in Nebraska and the U.S.

Franklin County stands out with a median property tax rate of 1.90%, which is significantly higher than the national median of 1.02%. This higher rate reflects the county's approach to budgeting and providing essential services. Property owners in Franklin may find their tax bills are notably higher compared to the national median property tax bill of $2,400. Understanding these rates is crucial for homeowners and potential buyers in Franklin, as it affects overall affordability and long-term financial planning. This insight into the local tax landscape can help residents and investors make informed decisions about property ownership in the area.

Property Tax Rates Across Franklin, Franklin County, Nebraska

Source: Ownwell

1.19%

1.75%

2.30%

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

1.90%

Median Effective Franklin County Tax Rate

1.73%

Median Effective Nebraska Tax Rate

1.75%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Franklin, Franklin County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
68939	1.44%	1.46%	1.90%	1.91%	1.91%

Source: Ownwell

Property Tax Assessment Values Across Franklin, Franklin County, Nebraska

When examining property taxes in Franklin, NE, 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 Assessor 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 Franklin 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 $53,718, with tax bills ranging significantly across the county. The zip code 68939 has the highest median home price at $53,718.

Property Tax Assessment Values Across Franklin, Franklin County, Nebraska

Source: Ownwell

$19,000

$136,041

$253,082

Median Franklin Market Value

$53,718

Median Franklin County Market Value

$50,605

Median Nebraska Market Value

$182,439

Median United States Market Value

$235,294

Property Tax Assessment Values Across Franklin, Franklin County, Nebraska

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
68939	$13,919	$25,649	$53,718	$114,575	$245,416

Source: Ownwell

Property Tax Bills Across Franklin, Franklin County, Nebraska

In Franklin County, NE, property tax bills are determined by the assessed value of a home, which is a percentage of its market value. With a median home price of $53,718, homeowners in Franklin face a property tax bill that varies significantly across different percentiles. For instance, those at the 25th percentile pay around $443, while those at the 75th percentile see bills as high as $2,045. The highest median tax bill in the region is $969, a figure that remains consistent across all zip codes. Compared to the national median property tax bill of $2,400, Franklin County's rates are relatively moderate. However, these costs can still pose a burden for homeowners. Factors like changes in property values and local tax rates can influence the final bill. Here, Ownwell steps in to assist homeowners by providing expert property tax appeal and exemption services. By analyzing each case, Ownwell helps homeowners potentially lower their tax obligations, ensuring they only pay their fair share.

Property Tax Bills Across Franklin, Franklin County, Nebraska

Source: Ownwell

$362

$1,702

$3,042

Median Franklin Tax Bill

$969

Median Franklin County Tax Bill

$872

Median Nebraska Tax Bill

$3,071

Median United States Tax Bill

$2,400

Property Tax Bills Across Franklin, Franklin County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
68939	$249	$443	$969	$2,045	$3,820

Source: Ownwell