16323 Property Tax Rate

Property owners in ZIP code 16323 (Franklin, Pennsylvania) pay a median of $1,536/year in property taxes on homes valued at $120,400. This translates to an effective tax rate of 1.28%, which is 5% below the Pennsylvania state average of 1.34%.

The monthly property tax burden for a median-valued home in 16323 is approximately $128, which factors into escrow payments on mortgages. This ZIP code is located within Venango County. This is $1,268 less than the Pennsylvania average of $2,804/year.

Compared to similar ZIP codes in Pennsylvania, 16323 has lower property taxes. ZIP codes with similar effective rates include 15957 (1.28%) and 16374 (1.28%).

In Franklin, property taxes represent approximately 2.5% of the median household income of $62,233, providing context for the relative tax burden on homeowners in this area.

Pennsylvania has no statewide property tax cap; Venango County Assessor sets assessments locally, and reassessment may occur at any time, increasing your property tax burden. Seniors (65+), widows/widowers, and disabled homeowners with income ≤$35,000 qualify for Pennsylvania's Property Tax/Rent Rebate Program, which returns $250–$1,000+ annually — apply through the Department of Revenue. Contact the Venango County Assessor within 30 days of closing to confirm your base assessment and request applicable school district homestead exclusions.