Home values skyrocket | What your assessment means for your taxes

MONTGOMERY COUNTY, Tenn. (WKRN) – Residents in several Middle Tennessee counties can expect some sticker shock coming their way in the mail as counties on five-year property assessment cycles learn their homes new appraised value.

Montgomery County is one area that’s seen exponential growth; their five-year property values went up nearly 65%.

“Tennessee as a whole is just really desirable for people moving from other states, work from home over the last five years, you had COVID come through where lifestyles have changed,” said Shannon Heim with the Clarksville Association of Realtors. “So it’s opened up different markets and Montgomery County being one of those.”

Montgomery County is one of several Middle Tennessee counties on five-year reappraisal cycles. According to the Tennessee Comptroller’s Office, Montgomery County saw a 64.9% increase, Cheatham County’s was 72.8%, Dickson County’s went up 52.7%, and Sumner County saw a 67.1% increase.

“If they grew at a rate more than the county, for us at 65% at the certified tax rate, than they would actually pay more in taxes, but if they didn’t grow at the same rate as the county did, then at the certified tax rate, they’re going to pay less,” Montgomery County Assessor of Property Erinne Hester said.

Know that the assessor is only concerned about getting your property value right, but they don’t actually set the tax rate. They’ll take their data to local municipalities to generate what’s called a revenue-neutral certified tax rate. Then, county commissions and city councils determine if that tax rate will generate enough to cover their local budget, or if a tax increase is needed.

“That’s where the citizen comes in. It is their responsibility to reach out to us, let us know if they have any concerns with their value or with their property specifically, but at the same time they need to let their county commissioner, their city councilmen and respective mayors know if they can tolerate a tax increase,” Hester said.

Hester and Heim said there have been ongoing pushes across the state to move to two and three-year assessment cycles to avoid such drastic increases in between assessment cycles.

“It helps keep up with growth so that you don’t have this huge impact on, ‘Oh my goodness, it jumped by 64% in Montgomery County,’” Heim said. “Do we feel that this will again? I mean you can’t ever predict the future, but that’s why that shorter role of two years is a great option because it helps with that.”

| READ MORE | Latest headlines from Clarksville and Montgomery County

Tennessee property owners on a five-year assessment cycle can expect to get their new property value notifications in the mail by May 20.

In Montgomery County, homeowners have until May 31 to appeal their property value to the Assessor’s Office.

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