Example of Franklin Parish Property Tax Calculation
Franklin Parish Property Tax is calculated based on the value of the property. To determine the value of a property, an assessment is conducted by the Franklin Parish Assessor's Office. The assessed value is multiplied by the parish's millage rate to determine the amount of property tax owed.
For example, let's say that John owns a house in Franklin Parish that has been assessed at a value of $100,000. The parish's millage rate is 100. John's property tax bill would be calculated as follows:
$100,000 (assessed value) x 0.1 (millage rate as a decimal) = $10,000 (property tax owed)
John would owe $10,000 in property taxes for the year. It is important to note that property tax rates can vary depending on the parish and can be subject to change.
If you want appeal your property tax assessment - contact your local tax assessor.
Franklin Parish Property Tax Rates
The Franklin Parish Property Tax rates are listed below in a formatted table:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Parishwide School District | $1.17 |
| Consolidated Road District | $0.08 |
| Parishwide General Fund | $0.86 |
| Fire Protection District No. 1 | $0.10 |
| Fire Protection District No. 2 | $0.10 |
| Fire Protection District No. 3 | $0.10 |
It is important to note that these rates are subject to change and individuals should consult with a tax advisor for personalized advice.
Who sets property tax rates in Franklin Parish ?
Who sets property tax rates in Franklin Parish?
The Franklin Parish Police Jury is responsible for setting the property tax rates in Franklin Parish. The Police Jury is made up of elected officials who serve as the governing body for the parish. They are responsible for overseeing the administration of parish services and making decisions that affect the community.
When are property tax rates set in Franklin Parish?
Property tax rates in Franklin Parish are typically set annually. The Police Jury holds a public meeting to review and approve the annual budget, which includes setting the property tax rates for the coming year. This meeting is typically held in the fall, with the new tax rates taking effect on January 1st of the following year.
It's important to note that property tax rates can be adjusted throughout the year if there are changes to the budget or other factors that impact the revenue needs of the parish. However, any changes to the tax rates must be approved by the Police Jury in a public meeting.
Overall, understanding the property tax system in Franklin Parish can be complex. If you have questions or concerns about your property tax assessment or rates, it's important to consult with a qualified tax advisor or other professional.
Homestead exemptions in Franklin Parish ?
To better understand the Homestead exemptions and deductions specific to Franklin Parish in Louisiana, let's take a closer look at the table below.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | All homeowners | Up to $75,000 | Reduces the taxable value of a property |
| Special Assessment Level Freeze | All homeowners | N/A | Protects homeowners from increasing property taxes due to rising property values |
| Age 65 or older or Totally and Permanently Disabled | Homeowners aged 65 or older or those who are totally and permanently disabled | Up to $10,000 | Reduces the taxable value of a property |
| Military Veterans | Veterans or their surviving spouses who were honorably discharged and own their home | Up to $7,500 | Reduces the taxable value of a property |
| Surviving Spouses of Military Personnel | Surviving spouses of military personnel who died in the line of duty | Up to $150,000 | Reduces the taxable value of a property |
| Agricultural Land Use | Land used primarily for agricultural purposes | N/A | Reduces the taxable value of the property |
| Timberland Land Use | Land used primarily for growing and harvesting timber | N/A | Reduces the taxable value of the property |
All homeowners in Franklin Parish are eligible for the standard Homestead exemption, which reduces the taxable value of their property by up to $75,000. Additionally, homeowners aged 65 or older, those who are totally and permanently disabled, military veterans, and surviving spouses of military personnel may be eligible for additional exemptions.
The Special Assessment Level Freeze protects homeowners from increasing property taxes due to rising property values. This means that the assessed value of their property will not increase as long as they remain eligible for this exemption.
For those who meet the eligibility requirements, the exemptions for age, disability, and military service can provide additional relief by reducing the taxable value of their property by up to $10,000, $7,500, and $150,000, respectively.
Finally, agricultural and timberland use exemptions are available for those who use their land primarily for farming or timber harvesting. These exemptions can provide significant tax savings by reducing the taxable value of the property.
It's important to note that while these exemptions can provide valuable relief for homeowners in Franklin Parish, the amount and eligibility requirements may vary depending on the specific circumstances. Homeowners should consult with their local tax assessor's office for additional information and guidance.
When is Franklin Parish Property Tax due ?
According to the Franklin Parish Tax Assessor's office, property tax in Franklin Parish is typically due on December 31st of each year. However, if the due date falls on a weekend or holiday, the deadline will be extended to the next business day. It is important to note that failure to pay the property tax bill on time may result in penalties and interest charges.
There are several payment methods available to Franklin Parish property owners. These include:
- In-person payment: Property owners can pay their tax bill in person at the Franklin Parish Tax Assessor's office located at 6558 Main Street, Winnsboro, LA 71295. Cash, checks, and money orders are accepted.
- Mail-in payment: Property owners can also pay their tax bill by mail. The payment should be mailed to the address listed on the tax bill, and it should include the payment stub and a check or money order.
- Online payment: Franklin Parish property owners can make their tax payment online through the parish's website. They can pay using a credit/debit card or an e-check.
- Automatic payment: Property owners can also set up automatic payments by enrolling in the Franklin Parish Tax Assessor's Auto Draft program.
Overall, Franklin Parish property owners have several payment options to choose from to pay their property taxes. It is important to pay the tax bill on time to avoid penalties and interest charges.
If you have more questions - contact your local tax collector.
How is Franklin Parish Property Tax penalty calculated ?
Franklin Parish calculates property tax penalties based on a set formula. Here is an example of how it works:
- Determine the amount of the delinquent property tax: Let's assume the property tax amount owed by a homeowner is $1,000.
- Determine the delinquent period: If the homeowner has missed the deadline for payment, the tax becomes delinquent. The delinquent period is the time between the deadline and the date of payment. For this example, let's assume the delinquent period is 30 days.
- Determine the penalty rate: Franklin Parish sets a penalty rate, which is a percentage of the delinquent property tax. Let's assume the penalty rate is 10%.
- Calculate the penalty amount: To calculate the penalty, multiply the delinquent property tax amount by the penalty rate. In this case, the penalty would be $100 (10% of $1,000).
- Add the penalty amount to the delinquent property tax: The total amount owed by the homeowner would now be $1,100 ($1,000 plus $100 penalty).
It is important to note that the penalty rate and delinquent period may vary depending on the specific circumstances. Homeowners should contact the Franklin Parish tax office for specific information regarding property tax penalties.
We recommend contacting the Franklin Parish Tax Office or a local tax professional for the most up-to-date and accurate information.