TAXES
Southampton County
Manufacturers pay real estate, machinery & tools, truck & automobile, utility and sales taxes.
Non-manufacturers pay real estate, tangible personal property, truck & automobile, utility and sales
taxes; also may pay either a merchants capital or a license tax.
Real Estate
Tax Rate / $100	$0.74
Assessment Ratio	80.90%
Effective Tax Rate / $100	$0.60
Machinery & Tools: includes heavy trucks and ICC rated contract equipment
Value Used	Original Cost
Tax Rate / $100	$2.40
Assessment Ratio	80% less 10% each year
Effective Tax Rate / $100 (first year)	$1.92
Tangible Personal Property
Value Used	Original Cost
Tax Rate / $100	$4.00
Assessment Ratio	80%
Effective Tax Rate / $100	$3.20
Automotive & Light Truck
Value Used	Average Loan
Assessment Ratio	100%
Effective Tax Rate / $100	$4.00
Merchants' Capital
Value Used	100%
Tax Rate / $100	Fair Market Value
Assessment Ratio	$0.50
Effective Tax Rate / $100	$0.50
Industrial Utility
Tax Rate Per Month	Type
$2.29 + $0.015199/kwh on first 3219 kwh	Electric
$0.000365/kwh on excess ($1500 max.)
20% on first $25	Telephone
Business License: assessed per calendar year	Tax Rate/ $100 gross receipts (min $30)
Retailers	$0.25
Mail Order firms	$0.25
Wholesalers & distributors	$0.05 / $100 gross purchases
Financial services	$0.58
Business services	$0.25
Sales & Use
State	4.00%
Local	1.00%
Corporate Income	6.00%
City of Franklin
Real Estate
Tax Rate / $100	$0.77
Personal Property
Tax Rate / $100	$4.50 per $100 original cost at 25%
Machinery & Tools
Tax Rate / $100	$2.00 per $100 original cost at 30%