Franklin, Davidson County, Tennessee Property Taxes
Median Franklin, TN effective property tax rate: 0.95%, significantly lower than the national median of 1.02%, but higher than the Tennessee state median of 0.64%.
Median Franklin, TN home value: $559,212
Median annual Franklin, TN tax bill: $5,296, $2,896 higher than the national median property tax bill of $2,400.
How are property taxes in Davidson calculated?
Property taxes in Franklin, TN 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, Davidson County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.95%
Estimate Property Tax Bill
$5,313
$4,930
Property Tax Rates Across Franklin, Davidson County, Tennessee
Local government entities are responsible for setting tax rates, which can vary significantly within Tennessee. Each year, counties determine their necessary budget to fund public services and divide it by the total assessed value of all taxable property in their area. This process establishes the property tax rate. Though votes and legal regulations play a role in determining these rates and budgets, this is essentially the yearly procedure.
In Franklin, located in Williamson County, the effective property tax rate is 0.95%. This rate is notably below the national median of 1.02%, offering property owners potential savings when compared to the national average. Interestingly, Franklin's rate is consistent with the highest and lowest median tax rates in Tennessee, both recorded at 0.95% in the same region. This uniformity highlights a stable and predictable property tax environment for residents. Comparing Franklin's tax rate to the broader state and national figures provides valuable context for homeowners considering property tax implications in their financial planning.
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
0.95%
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 Davidson County Tax Rate
0.95%
Median Effective Tennessee Tax Rate
0.64%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Franklin, Davidson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37064 | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Franklin, Davidson County, Tennessee
When examining property taxes in Franklin, TN, 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 Davidson County Assessor's Office 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 Davidson 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. For example, the median home price in Franklin is $559,212, with tax bills ranging significantly across the county. The 37064 zip code has the highest median home price at $559,212.
Property Tax Assessment Values Across Franklin, Davidson County, Tennessee
Source: Ownwell
$191,850
$462,575
$733,300
Median Franklin Market Value
$559,212
Median Davidson County Market Value
$291,900
Median Tennessee Market Value
$173,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Franklin, Davidson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37064 | $43,250 | $395,575 | $559,212 | $815,938 | $953,550 |
Source: Ownwell
Property Tax Bills Across Franklin, Davidson County, Tennessee
In Franklin, Davidson County, Tennessee, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors such as the home's location, size, and improvements can influence its assessed value. Homeowners in Franklin face a median property tax bill of $5,296, which is significantly higher than the national median of $2,400. This disparity highlights the financial burden on local homeowners, who may pay more than double the national average.
Ownwell offers valuable assistance to homeowners aiming to reduce their property tax bills. By providing expert property tax appeal services, Ownwell helps ensure that properties are assessed fairly and accurately, potentially lowering tax obligations. With a deep understanding of local tax regulations and a commitment to client savings, Ownwell empowers Franklin homeowners to effectively manage and potentially decrease their property tax expenses.
Median Franklin Tax Bill
$5,296
Median Davidson County Tax Bill
$2,764
Median Tennessee Tax Bill
$1,206
Median United States Tax Bill
$2,400
Property Tax Bills Across Franklin, Davidson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37064 | $410 | $3,746 | $5,296 | $7,727 | $9,030 |
Source: Ownwell
