Moving to Franklin TN and curious about the 2014 property tax rates? If you are moving here from another state, you may find that the taxing structure in Williamson County Tennessee is different from your current state.
In Tennessee, we don't have separate taxing districts for the city, schools, library and fire departments. All of these amenities are provided through your county or city tax. The schools for example fall within Williamson County and are covered by your county tax rate.
There are three tax rates for Franklin TN homeowners; Williamson County homes only, Franklin homes outside of FSSD (Franklin Special School District) and Franklin homes within FSSD.
Williamson County Homes - These home may have a Franklin mailing address but do not fall within the Franklin city limits. Therefore, these homeowners only pay taxes to Williamson County which is currently $2.31 per $100 of assessed property value. These homes are located in rural areas outside Franklin city limits.
Franklin Homes Outside FSSD - These homes are located within the city limits of Franklin but not within Franklin Special School District. They pay taxes to the county and City of Franklin. The county rate is $2.20 and the city rate is $0.4065 or a total of $2.6065 per $100 assessed property value.
Franklin Homes in FSSD - These homes are located within the city limits of Franklin and are also within Franklin Special School District. Homeowners here will pay taxes to the City of Franklin, Williamson County and Franklin Special School District. The county rate is $2.00, the city rate is $.04065 and FSSD is $0.9775 for a total of $3.384 per $100 assessed property value.
You can see that a Franklin resident living within the county but not in the city or FSSD, pays significantly less for taxes. When you are buying a home in Franklin, you should ask if the house falls within FSSD as homes here pay the highest rate in town. Some buyers actually request to be in this district because of the lower student to teacher ratio.
When you are ready to buy a Franklin TN home, contact Tammie White for all your real estate needs at (615) 495-0752.
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