Taxes in Franklin, Tennessee
Complete tax guide for Franklin, TN. No state income tax, 0.58% property tax, 9.75% sales tax. Calculate your total tax burden.
State Income Tax
None
Tennessee
Property Tax
0.58%
Effective rate
Sales Tax
9.75%
Combined rate
Tax Burden
Moderate
Franklin, TN Tax Overview
No state income tax; affluent Nashville suburb
Population
83,454
Median Income
$107,218
Cost of Living
118.5 (100 = avg)
State Income Tax
None
Median Home Price
$615,000
Franklin Tax Calculator
Pre-filled with Franklin median: $107,218
Total Tax Burden in Franklin
$23,404
Take-Home: $83,814 · Effective Rate: 21.83%
Federal Tax
$15,202
14.18% eff.
TN State
$0
0.00% eff.
FICA
$8,202
7.65% eff.
Take-Home
$83,814
78.17% kept
Tax Breakdown
| Item | Annual | Monthly |
|---|---|---|
| Gross Income | $107,218.00 | $8,934.83 |
| Federal Income Tax | -$15,201.96 | -$1,266.83 |
| Tennessee State Tax | $0.00 | $0.00 |
| Social Security (6.2%) | -$6,647.52 | -$553.96 |
| Medicare (1.45%) | -$1,554.66 | -$129.56 |
| Take-Home Pay | $83,813.86 | $6,984.49 |
Property Tax in Franklin
Median Home
$615,000
Annual Tax
$3,567
Monthly Tax
$297
Effective Rate
0.58%
Sales Tax in Franklin
Combined Rate
9.75%
State Portion
~7.3%
Local Portion
~2.5%
The combined sales tax rate in Franklin is 9.75%, which is above the national average of 7.12%. On a $100 purchase, you would pay $9.75 in sales tax.
Tax Burden Comparison
| Tax Type | Franklin | Tennessee Avg | National Avg |
|---|---|---|---|
| Income Tax | None | None | 4.6% |
| Property Tax | 0.58% | ~0.58% | 1.1% |
| Sales Tax | 9.75% | ~9.75% | 7.12% |
| Overall Burden | Moderate | — | Moderate |
Tax Saving Tips for Franklin Residents
- Tennessee has no state income tax, meaning your income is only subject to federal taxes and FICA. Consider investing your tax savings into a Roth IRA for tax-free growth.
- Property tax in Franklin (0.58%) is below the national average of 1.1%. This makes homeownership more affordable here relative to property tax burden.
- The combined sales tax rate of 9.75% is relatively high. Consider making large purchases in lower-tax jurisdictions or online retailers that do not charge local tax rates.
- Use a Health Savings Account (HSA) if eligible. Contributions are tax-deductible ($4,300 individual, $8,550 family), growth is tax-free, and withdrawals for medical expenses are tax-free.
Other Cities in Tennessee
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Very LowCalculate Your Full Tennessee Tax Burden
See detailed state tax brackets, FICA breakdown, and compare to neighboring states.
Frequently Asked Questions
What are the tax rates in Franklin, TN?
Franklin, Tennessee has no state income tax. The property tax rate is 0.58% and the combined sales tax rate is 9.75%. No state income tax; affluent Nashville suburb
How much is property tax in Franklin?
The effective property tax rate in Franklin is 0.58%. On the median home price of $615,000, this equals approximately $3,567 per year or $297 per month. This is below the national average of 1.1%.
What is the sales tax rate in Franklin?
The combined sales tax rate in Franklin is 9.75%, which includes both state and local components. This is above the national average combined rate of approximately 7.12%.
How does Franklin's tax burden compare to other cities?
Franklin has a moderate overall tax burden. The effective total tax rate for a median-income household is approximately 28.7%. The absence of state income tax significantly reduces the overall burden. Cost of living index is 118.5 (100 = national average).
Are there any local taxes in Franklin?
Franklin does not impose a separate local or city income tax. Residents pay no state income tax, federal income tax, and FICA (Social Security and Medicare). No state income tax; affluent Nashville suburb