2011 Franklin County NC Property Tax Guide
How much are property taxes for Franklin County NC new homes?
How much are Franklin County, NC new home property taxes? That's a very common question.
Franklin County lies just northeast of Wake County.
Franklin County is home to Bunn, Franklinton, Louisburg, Youngsville, and parts of Wake Forest.
When were Franklin County NC property values last adjusted (assessed)?
Franklin County revalues all real estate at least every eight years, per NC requirements. This procedure allows the Tax Department to adjust the appraised value of real estate to reflect the property's true value in light of changing real estate market conditions.
How Much are 2011 Property Taxes in Franklin County?
Here are the 2011 rates, by town and fire district within Franklin County.
To get the total property tax rate for a town, simply add the county tax to the town and/or fire district tax.
For example, Louisburg has a town rate of 0.535, and the Franklin County rate is 0.8725.
Add the two together - the total tax rate for Louisburg, NC is 1.4075.
To get up-to-date Franklin County tax information, visit the Franklin County Tax Records site.
How Do I Figure Out What These Wake County Property Tax Numbers Mean?
It's not as confusing as it looks. The tax rates are based on the assessed value of the home, not the asking price.
• Divide the assessed value by 100.
• Multiply the result by the combined rate on the right side of the table.
• The result will be your yearly property tax bill, as of 2011.
This table gives sample property tax bills for all the towns in Franklin County: Wake Forest, Bunn, Franklinton, Louisburg, and Youngsville.
Where Should I Live to Get the Lowest Property Tax Rate?
Your tax bill can be lower if your home or property is not actually within a municipality, or town. If this is the case, you'll pay just the County rate, plus most likely a fire district tax.
What County Will My New Home Be In?
When looking at properties, don't take the city address for granted - you could be in a different county, with different tax rates, depending on where exactly the property is located. For example, a Wake Forest home may lie in either Wake or Franklin County.
Check the Address of Your New Home
If there's a particular home that you're considering, you can go directly to the Franklin County Tax Records site, type in the address, and see the assessed value of the property.
The reassessments have just been completed, though, and Franklin County is not noted for 100% accuracy in assessing the values of property, so what you see may be either higher or lower than the asking value of the property.
If there is a discrepancy, don't be afraid to ask your real estate agent to pull comps for you!
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