65250 Property Tax Rate

Property owners in ZIP code 65250 (Franklin, Missouri) pay a median of $1,857/year in property taxes on homes valued at $188,700. This translates to an effective tax rate of 0.98%, which is 26% above the Missouri state average of 0.78%.

The monthly property tax burden for a median-valued home in 65250 is approximately $155, which factors into escrow payments on mortgages. This ZIP code is located within Howard County. This is $481 more than the Missouri average of $1,376/year.

Compared to similar ZIP codes in Missouri, 65250 has lower property taxes. ZIP codes with similar effective rates include 64083 (0.98%) and 63882 (0.98%).

In Franklin, property taxes represent approximately 1.5% of the median household income of $120,368, providing context for the relative tax burden on homeowners in this area.

Missouri reassesses property at market value upon sale, with no statewide cap on increases—Howard County's unusually high effective rate of 1.66% makes it critical to secure any available exemptions. Howard County residents qualify for Homestead Exemption and Senior Exemption (65+); file immediately with the Howard County Assessor after closing. Request your assessment from the Howard County Assessor within 10 days and file a formal written protest within 30 days to challenge the valuation.