By Eddie West
Despite a decrease in rate, residents are finding themselves paying more in county property taxes than a year ago.
With this year’s county property reappraisal, the value of land and structures, including homes and commercial buildings, increased in value.
In some cases, the increase is modest, while in others it is significantly higher.
In May of this year, some residents were left in a state of disbelief at the re-appraised value of their property when notices were received through the mail.
It was the first time in five years property in the county had been re-appraised.
In some cases, property values may have come close to doubling in value since the last reappraisal.
Residents began paying their 2022 county property taxes in October after notices were mailed.
Some property owners saw only a modest increase in the amount they owned in county property taxes, however for others it was a much more substantial increase.
In June of this year, county commissioners approved a state certified rate of $1.7331. That rate is down from last year’s county property tax rate of $2.48.
In theory, the state certified rate of $1.7331 is suppose bring in approximately the same amount of revenue for the county as the $2.48 rate approved by commissioner last year.
The state explains a certified tax rate as follows: “The Tennessee Certified Tax Rate process is designed to ensure “truth-in-taxation” following a county-wide reappraisal. The process ensures the amount of total taxes collected for a county remain the same after a reappraisal, even if the combined value of all property in the county rose or fell following the reappraisal.”
Though county property owners were aware the value of their property has increased in recent years, with the lower state certified property tax rate many residents weren’t anticipating paying more in county property taxes.
Because of a number of variables, sources say the amount of revenue brought in with a state certified tax will never match the same figure as the property tax rate set prior to the re-appraisal.
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