Franklin Property Taxes help keep payments down
Franklin has low property taxes compared to cities in Florida, sometime as much are 70 percent lower. I have the pleasure of helping a young couple who is planning to relocate to Franklin, from Jacksonville this week. Budget considerations were being discussed, and one of the questions that I commonly ask people relocation form other states is, what are your current property taxes and homeowners insurance. These two expenses vary considerably from State to State, and City to City. When I told them what they should expect when they purchase a home in Franklin, they were pleasantly surprised.
Depending on where they finally decide to live, the taxes on a comparable home in Franklin could be 1/3 of what they are paying in Jacksonville. Homeowners insurance is also usually much lower in Tennessee than Florida. We are talking about several hundred of dollars a month difference in Taxes and insurance on a $200,000 home.
The combination of those two items will allow this couple to buy a more expensive home in the Franklin area with the same monthly payment they had in Florida. I’m beginning to see a trend in the Franklin with relocations from Florida, and now I know why. The cost of owning a home is lower in Tennessee.
This posting and the contents written here are the intellectual property and opinions of Larry Brewer of Benchmark Realty. Providing Nashville real estate services to clients in Nashville, Brentwood, Franklin, Spring Hill, Williamson county, and the middle Tennessee area.
