Hamilton County Property Tax Assessments Outlook
CHATTANOOGA, Tenn. (WDEF)- If you’re a property owner in Hamilton county, you’ve just received a new property tax assessment in the mail.
The increase over the one you received 4 years ago…may have caught you off guard.
There are over 155,000 commercial and residential properties in Hamilton County.
The property reassessments were mailed out in March.
Here’s what the market is looking like now.
Hamilton County Assessor Marty Haynes says, “we are charged by the state of Tennessee to do a reappraisal every four years and that is to equalize the values across the county. Home values, residential and commercial property.”
Haynes says overall sale prices and value of properties have gone up…. so, areas with significant growth may see higher than usual assessments.
This year 25% of them received a 10% increase in their tax bill.
Another 16% got a 15% increase and another 11% got 20%.
Haynes says that so far the agency has about 5% in reviews or appeals….in it’s pipeline…and that’s the lowest in years.
“The land values themselves have increased over the last four years. Same thing for property owners of residential property. Obviously, the North Shore, north Chattanooga; that’s the hottest area in town to buy a home these days. Values there have gone up more than anywhere else in the county,”describes Haynes.
One property owner came in to talk about his recent tax assessment.
He says it went up several thousand dollars and he is currently appealing it.
Raymond Cutcher of Chattanooga says, “in these days and times things always usually go up. They don’t go down, but it doesn’t ever hurt to question what’s going on. I’m working with an adjuster right now who’s working in the field. Trying to get some legal matters settled out where we can to look further into it.”
If you received a property assessment in the mail…. and you’d would like to appeal it, you still have until May 20th.