Property Taxes in Franklin, Virginia
Median Franklin, Virginia effective property tax rate: 0.71%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Franklin, Virginia home value: $252,200
Median annual Franklin, Virginia tax bill: $1,762, lower than the national median property tax bill of $2,400.
How are property taxes in Southampton calculated?
Property taxes in Franklin, Virginia 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 April 13, 2026
How Does the Franklin Property Tax Calculator Work?
Use this Franklin property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Franklin's median effective tax rate of 0.71% — based on actual property records in Southampton 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 Franklin'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 Franklin: rates range from 1.762% in 23851 to 1.762% in 23851, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Franklin.
About Franklin Property Taxes
About Property Taxes in Franklin, Southampton, Virginia
Franklin's median effective property tax rate of 0.71% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Southampton County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Franklin. Homeowners in the 23851 ZIP code carry a median effective rate of 0.71%, while those in the lowest ZIP code also pay 0.71%. This spread reflects how school district boundaries and local assessment districts are drawn across Southampton County. Understanding which part of Franklin you live in can make a meaningful difference to your annual tax bill.
Franklin homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the June 1, 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 Franklin, Southampton County, Virginia
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 Franklin's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
Our median effective property tax rate (tax bill Ă· 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
0.71%
Our median effective property tax rate (tax bill Ă· 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 Southampton County Tax Rate
0.71%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Franklin, Southampton County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23851 | 0.71% | 0.71% | 0.71% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Franklin, Southampton County, Virginia
When examining property taxes in Franklin, Virginia, 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 Southampton County assessment 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.
Assessment notices are sent in the spring each year and typically reach your mailbox by the middle of the month. 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 example, the median home price in Franklin is $252,200, with a median property tax bill of $1,762. Tax bills range across the county, with the 25th percentile at $1,179 and the 90th percentile at $3,108.
Property Tax Assessment Values Across Franklin, Southampton County, Virginia
Source: Ownwell
$148,200
$229,025
$309,850
Median Franklin Market Value
$252,200
Median Southampton County Market Value
$221,200
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Franklin, Southampton County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23851 | $110,620 | $168,000 | $252,200 | $354,750 | $439,760 |
Source: Ownwell
Property Tax Bills Across Franklin, Southampton County, Virginia
Franklin property tax bills are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value determined by the local assessor. The assessed value is then used to estimate how much a homeowner owes each year, so changes in market conditions can directly affect the bill. For a home with a median price of $252,200, the tax amount can vary depending on the property’s assessment and the rates set by local taxing authorities.
These bills matter because they are a recurring cost of homeownership and can rise when property values increase. In Franklin, the median tax bill is $1,762, which is below the national median property tax bill of $2,400 and also below the national median property tax rate of 1.02%. Homeowners in the area typically see tax bills ranging from $1,179 at the 25th percentile to $2,498 at the 75th percentile, with the 90th percentile reaching $3,108.
Median Franklin Tax Bill
$1,762
Median Southampton County Tax Bill
$1,561
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Franklin, Southampton County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23851 | $771 | $1,179 | $1,762 | $2,498 | $3,108 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Southampton Tax Assessor | |
| Website | southamptoncova.interactivegis.com |