Franklinville, Randolph County, North Carolina Property Taxes
Median Franklinville, NC effective property tax rate: 0.65%, significantly lower than the national median of 1.02%, but lower than the North Carolina state median of 0.82%.
Median Franklinville, NC home value: $143,740
Median annual Franklinville, NC tax bill: $1,004, $1,396 lower than the national median property tax bill of $2,400.
How are property taxes in Randolph calculated?
Property taxes in Franklinville, NC 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 Franklinville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Franklinville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Franklinville, Randolph County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.65%
Estimate Property Tax Bill
$936
$869
Property Tax Rates Across Franklinville, Randolph County, North Carolina
Local government entities set tax rates, which can vary widely within a state. The reason for this is that each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws are involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Franklinville in Randolph County, NC, exemplifies how property tax rates can differ even within a single state. The effective property tax rate in Franklinville is 0.65%, which is significantly lower than the national median property tax rate of 1.02%. This means that property owners in Franklinville generally pay less in property taxes compared to many other areas across the nation.
By comparing Franklinville’s effective property tax rate to other cities in North Carolina and the median rates in the U.S., homeowners can gain a clearer understanding of how their property tax obligations stack up. Understanding these differences can be crucial for property owners looking to manage their expenses effectively.
Property Tax Rates Across Franklinville, Randolph County, North Carolina
Source: Ownwell
0.60%
0.96%
1.33%
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 Franklinville Tax Rate
0.65%
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 Randolph County Tax Rate
0.68%
Median Effective North Carolina Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Franklinville, Randolph County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27248 | 0.58% | 0.64% | 0.65% | 0.68% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Franklinville, Randolph County, North Carolina
When examining property taxes in Franklinville, NC, 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 Randolph County Tax Department 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 Randolph 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 Franklinville.
For example, the median home price in Franklinville is $143,740, with tax bills ranging significantly across the county. Zip code 27248 has the highest median home price at $143,740.
Property Tax Assessment Values Across Franklinville, Randolph County, North Carolina
Source: Ownwell
$78,165
$146,938
$215,710
Median Franklinville Market Value
$144,015
Median Randolph County Market Value
$168,370
Median North Carolina Market Value
$221,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Franklinville, Randolph County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27248 | $48,958 | $94,980 | $144,015 | $210,345 | $322,741 |
Source: Ownwell
Property Tax Bills Across Franklinville, Randolph County, North Carolina
In Franklinville, NC, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value. Franklinville falls within Randolph County, where the median home price is $143,740. Homeowners in this area face a median property tax bill that is significantly lower than the national median of $2,400. However, tax bills can vary, with the 25th percentile at $631 and the 90th percentile reaching $2,073. These variations arise from differences in property values and local tax rates.
For homeowners, high property taxes can be a financial burden, affecting their overall housing costs. This is where Ownwell steps in to offer relief. By providing expert property tax appeal and exemption services, Ownwell helps homeowners in Franklinville potentially reduce their tax bills, ensuring they pay only what's fair. With a focus on maximizing savings, Ownwell empowers homeowners to manage their property tax expenses more effectively.
Property Tax Bills Across Franklinville, Randolph County, North Carolina
Source: Ownwell
$562
$1,240
$1,918
Median Franklinville Tax Bill
$1,001
Median Randolph County Tax Bill
$1,311
Median North Carolina Tax Bill
$1,813
Median United States Tax Bill
$2,400
Property Tax Bills Across Franklinville, Randolph County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27248 | $319 | $628 | $1,001 | $1,416 | $2,054 |
Source: Ownwell