Hamilton County’s Property Value Reappraisal

It's time for property value reappraisals in Hamilton County | Photo by Kelly Lacy via Pexels

Every 4 years, Tennessee State law requires that the Property Assessor conduct a property value reappraisal of all residential + commercial properties based on recent property sales — 2021 is the property value reappraisal year for Hamilton County. Let’s dig in + see what that means for you.

What’s a property value reappraisal? 

Not to be confused with property tax bills sent out in October, Tennessee law (Section 67-5-1601) requires counties to periodically reappraise all real property to reflect market value. In a rapidly growing area like Hamilton County, it’s not uncommon for values to skyrocket during this process.

If you haven’t yet, you should receive a new Property Value notice in your mailbox. This notice will inform you of the current fair market value of your property as of Jan. 1, 2021.

Will my property taxes decrease, increase, or stay the same? 

Per Tennessee State law (T.C.A. Code 67-5-1701(3)), a reappraisal does not increase property tax revenue for any local government or municipality. The state’s certified tax rate law requires local governments collect the same amount of revenue as the year before reappraisal.

Watch this video that explains how the property value reappraisal helps lower the property tax rate.

These reappraisals help eliminate inequities created over time by changes in the real estate market + ensure fairness and equity for all property owners.

What do I do now?

Unless you disagree with your reappraisal, nothing.

Citizens who do not agree with the reappraisal of their property may appeal to the Board of Equalization.

The County Board of Equalization began meeting on Tues., June 1 + locals have until Fri., June 11 at 4 p.m. to file an appeal.

Tennessee Code 67-5-1407 requires that property owners have basis for their complaint + provide evidence to support it.

If you are a residential property owner and have questions about the value of your property, call (423) 209-7990.