Franklin County will see the taxable value of property in the county increase substantially this year.
The Franklin County Property Appraiser has provided the Franklin County Commission with a good faith estimate of taxable value for use in this summer's budget discussions.
The estimated taxable value of property in Franklin County is $2,310,915,668 dollars, which is an increase of nearly 14 percent over the previous year.
It's the 8th year of increased property values in the county; the increase is fueled by sales and new construction.
New construction in Franklin County is moving at the fastest rate since the crash of the housing market almost fifteen years ago.
But even though the taxable value of property is moving up, we are still far below the numbers we saw before the crash.
The decline in values during the housing crash was so severe that the taxable value of property today is now just above the taxable value in 2004 which was $2.1 billion dollars and still 43% less than the taxable value at the high in 2006 when the taxable value was $4.1 billion.
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