Franklin County has tax bills in the mail and many property owners already have received their charges for 2017. A record $117,612,759.91 is the total of all of the bills.
The total valuation of the county is at $1,904,075,669. That’s a record high. Industrial and commercial property is assessed at 32 percent of true value, residential is assessed at 19 percent of true value and agricultural is assessed at 12 percent of value. The real estate valuation is $1,352,255,628, followed by personal property at $333,537,009, and railroad and utilities at $218,283,032.
More than 90 percent of the charges usually are paid by the deadline, which is Dec. 31, 2017. Taxes become delinquent if not paid by the deadline and penalities are levied. The bulk of the taxes are paid in December.
The county collects municipal, school district, and other taxing entities’ tax charges. Some people are under the impression that since the county sends out the bill that the money goes to the county. The largest percentage collected by the county goes to the public school districts. Where the money goes is marked clearly on the tax bills.
In addition to county property taxes, the county has three sales taxes, all a half-cent, for general revenue, capital improvements (roads and bridges) and law enforcement.
The county could not operate only on property taxes. That’s why the sales taxes are levied, with voter approval.
The tax-paying season takes some of the joy out of the holiday period, but people want, and in many cases need, the services provided by the taxing entities.