The Finance Department collects property taxes for the City and for the Frankfort Independent School District.
City Tax Rate
The City's tax rate for the year 2021 is $.196 per hundred dollars of assessed value on real estate and on personal property (business furniture, fixtures and inventory).
School District Tax Rate
The Frankfort Independent School District's tax rate for the year 2021 is $1.013 per hundred dollars of assessed value on real estate and $1.024 per hundred dollars of assessed value on personal property (business furniture, fixtures and inventory).
The property values are determined by the Franklin County Property Valuation Administrator.
Property Tax Bills
Property tax bills are mailed in October of each year. Tax bills are due by December 31st. A 2% discount is available if the bill is paid by November 30th. Property taxes paid after December 31st will be subject to a 10% penalty.
In addition, the city will also add 1/2% interest compounded monthly to unpaid taxes. Unpaid taxes will be published in the Frankfort State Journal after the first quarter and then turned over to the City Attorney for collection.