Property value notices going out across Hamilton County

CHATTANOOGA, Tenn. (WDEF)- Reappraisal notices have started going out across Hamilton County.

County property assessor Marty Haynes says that by the end of April, every property owner should receive such notices.

There are over 165,000 properties in Hamilton County.

Haynes wants the public to know that while your home value is likely to go up, this doesn’t necessarily equate to your bottom line tax rate changing.

His office does not set tax rates, and there’s existing state law that dictates how property tax is collected.

“The key concept for the public to understand is local government cannot see an increase in its revenue just based on property values rising… Hamilton County, or the local municipal governments, cannot receive an increase in their revenue just because values go up exclusive of new construction and there will be plenty of new construction across Hamilton County,” he said.

If property owners feel their value is improperly calculated, they can contact the property assessor’s office to discuss their issue.

County and municipal governments will set finalized tax rates after the suggested certified tax rate is set this summer.

Haynes says that he expects that rate to go down in part due to the rise in property values related to widespread construction of new homes across the county.

The 2021 rate, the last set rate, was at roughly 2.23%.

That for homeowners is only taxed for 25 percent of their home’s total value.