Updated · Property tax data: Census ACS 2024 5-year estimates · Transfer tax verified April 2026 · Methodology · Editorial policy
Franklin County's 0.73% effective property tax rate falls in the middle 50% of US counties, close to the national median of 0.81%. Within Mississippi's 81 counties, it's the 31st highest. On the county's median home value of $101,900, the typical homeowner pays $739 annually in property tax, $890 less than the national median of $1,629. Mississippi charges no state real estate transfer tax, which keeps closing costs here lower than high-transfer-tax states like New York, Pennsylvania, or Delaware.
Enter any purchase price to see the full cost breakdown for Franklin County.
Low flood risk. Flood insurance not typically required. Verify at msc.fema.gov for your specific property.
All figures are estimates for planning purposes only. Mortgage payment assumes a 30-year fixed rate of 7.28%, the Freddie Mac PMMS average for the week ending October 1, 2026. Your lender will confirm the actual rate. Closing costs vary by lender and transaction. Consult a licensed real estate attorney and lender before making any financial decisions.
Ways buyers in Franklin County may reduce their annual property tax. These programs apply statewide; verify county specifics with your local assessor.
Mississippi homeowners under 65 who own and occupy a primary residence qualify for a homestead exemption providing up to ~$300 in tax credit against ad valorem taxes.
View official source →Starting January 1, 2026, qualified homeowners age 65+ or totally disabled are exempt from ad valorem tax on up to $12,500 of assessed value (increased from $7,500).
View official source →Veterans who are honorably discharged and 100% service-connected disabled receive a full ad valorem tax exemption on the homestead. Also available to unremarried surviving spouses.
View official source →Last verified April 2026. Exemption amounts and eligibility change frequently. Always confirm with your county assessor before claiming.
Answers to common questions about buying a home in Franklin County.
The effective property tax rate in Franklin County is 0.73%, calculated as the median annual property tax paid ($739) divided by the median home value ($101,900), using 2024 US Census ACS 5-year estimates. Your actual bill depends on your purchase price, homestead or senior exemptions, and any special assessments applied in your taxing district.
No. Mississippi does not impose a state real estate transfer tax, which keeps closing costs in Franklin County lower than in states like New York, Pennsylvania, or Delaware where transfer taxes can add thousands of dollars at closing.
Flood risk is relatively low. Only 2.5% of Franklin County's land falls within a FEMA Special Flood Hazard Area. Flood insurance is not typically required, though individual properties near waterways may still be in a zone. Verify at msc.fema.gov.
Closing costs for a buyer in Franklin County typically run $2,038–$5,095 (2–5% of purchase price) on a median-priced home, including title insurance ($800–$2,000), appraisal ($400–$700), home inspection ($350–$600), recording fees ($100–$300), and loan origination (0.5–1.0% of the loan amount). Use the calculator above for a specific estimate at your purchase price.
Every county-specific figure on this page links to the exact public dataset it comes from. Verify the numbers yourself against the original source.
Source for the $739/yr median taxes paid (ACS 2024 5-year estimates, variable B25103_001E).
Source for the $101,900 median home value (variable B25077_001E). The 0.73% effective rate is median taxes paid divided by median home value.
Confirms Mississippi has no state real estate transfer tax. Verified April 2026.
Source for the county's flood hazard exposure (coastal and inland flood exposure area as a share of county area).
The national dataset behind the county report, including its technical documentation and release notes.
Look up a specific property's flood zone and insurance rate map before making an offer on a home in Franklin County.
Closing cost line items are national ranges, not county data. The methodology lists each range's source and the calculator's assumptions (mortgage rate, insurance, PMI).
Mississippi property tax exemptions: official sources
Verified April 2026.
What every buyer should read before making an offer.
An HOA capped rentals at 10 of 50 homes and grandfathered the existing landlords. How to find rental restrictions before closing, and what they cost you.
Read the guide →A buyer closed on a house and only then found out about ongoing HOA lawsuits. Six checks you can run yourself before your contingencies expire.
Read the guide →HOA special assessment not on the disclosure? One buyer got a $15,000 bill the day after closing. How to catch it before, and what to do after.
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