Franklin County, Indiana property tax
The median homeowner in Franklin County, Indiana pays $1,459 a year in property tax on a home worth $236,700, an effective rate of 0.62%. The national effective rate is 0.98%.
What the rate means here
At 0.62%, Franklin County taxes property more lightly than the national 0.98%. That puts the median bill at $1,459. Rates this low usually mean the state, rather than the county, carries more of the school funding.
It ranks #63 of 92 Indiana counties by effective rate, against a statewide 0.74%, and #2,012 nationally. The state runs from 0.93% in Marion County down to 0.41% in Switzerland County.
The median home costs 2.97 times the median household income of $79,702, against 3.86 nationally, which is a comfortable ratio by American standards. 81.48% of occupied homes are owned rather than rented, and cheap housing relative to income is usually why. This is a small rural county of 22,929 people. Five-year survey estimates for places this size carry wide margins of error, so treat the figures as approximate.
The rate is derived rather than quoted. How and why.
What that costs at different home values
Arithmetic at the county effective rate, before any exemption or assessment cap.
Housing and income
| Franklin County | Indiana | United States | |
|---|---|---|---|
| Effective property tax | 0.62% | 0.74% | 0.98% |
| Median tax bill | $1,459 | $1,496 | $2,969 |
| Median home value | $236,700 | $201,600 | $303,400 |
| Median gross rent | $803 | $1,020 | $1,348 |
| Median household income | $79,702 | $70,051 | $78,538 |
| Home price to income | 2.97× | 2.88× | 3.86× |
| Rent as share of income | 12.09% | 17.47% | 20.6% |
| Owner-occupied | 81.48% | 70.35% | 65.02% |
Source: U.S. Census Bureau, American Community Survey 2023 five-year estimates. Population 22,929.
Nearby counties of similar size
| County | Rate | Median bill | Home value |
|---|---|---|---|
| Starke County | 0.60% | $895 | $148,400 |
| Fayette County | 0.76% | $878 | $114,800 |
| Owen County | 0.67% | $1,091 | $162,400 |
| Randolph County | 0.83% | $881 | $106,000 |
| Scott County | 0.64% | $931 | $145,400 |
Franklin County property tax: common questions
What is the property tax rate in Franklin County, Indiana?
The effective rate is 0.62% of home value, from a median tax bill of $1,459 against a median home value of $236,700. That is 0.36 points below the national 0.98%.
How much is property tax on a $400,000 home in Franklin County?
Roughly $2,480 a year at the county effective rate of 0.62%.
Is Franklin County expensive compared with the rest of Indiana?
It ranks #63 of 92 Indiana counties by effective property tax rate, and #2012 of 2,826 nationally. That is 0.12 points below the Indiana average of 0.74%.
What does housing cost in Franklin County?
The median home is worth $236,700 and median gross rent is $803 a month. Median household income is $79,702, which puts the home at 2.97 times annual income and rent at 12.09% of it.