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From my local paper this morning, Washington County Tn.

County property values increase
By Heather Richardson
Press Staff Writer
hrichardson@johnsoncitypress.com

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Washington County’s 2009 property appraisal shows the county’s assessed property value, on average for the entire county, to be up by about 30 percent from 2004.
Assessor of Property Monty Treadway said notices will be sent out to property owners on April 17 informing them of the new appraisal and assessment. The notices also will show the owner the old assessment value.

This year’s assessment was on 57,500 parcels with a total assessed value of $2.7 billion — up considerably from 2004. Much of this increase, however, is a result of new construction and subdivisions that have gone up in the past five years, Treadway said.

The assessed value is determined when the property assessor appraises and classifies the property and then applies the statutory percentages to the appraisals. Percentage rates for residential and farm properties are 25 percent while the rate for commercial and industrial properties is 40 percent.

For example, if a residence is appraised at $100,000 it would have an assessed value of $25,000.

Contrary to what many believe, the property appraisal and assessment process does not automatically raise property taxes. Appraisals and assessments are required by law and are done so that all property is appraised at current market value.

Property tax rates are determined by the County Commission. It cannot, however, adopt a tax rate that would generate more revenue than the previous year without first letting the public be heard.

“When there is a reappraisal, then the state division of property gives the county a certified rate to bring in the same amount of money as the year before,” Treadway said. “If the county raises the certified rate they have to have a public hearing.”

Washington County’s current property tax rate is $2.45 per every $100 of assessed value.

Increases in property value are driven by improvements or additions made to the property. The market for the property is another determining factor.

“People need to realize this is a five-year reappraisal and the values they have now are five years old,” Treadway said. “From 2004 to 2007 property values took a big increase.”

Treadway said he expects a lot of people to come to his office with questions or disagreements about their reappraisal.

“Most people are going to say their taxes are too high,” Treadway said. “But we don’t really have anything to do with taxes.”

Treadway said property owners coming in to dispute their appraisal need to have something that shows why they believe it to be incorrect.

“There will be a hearing starting April 20 for two weeks here in the office and then if they disagree with that they can attend the County Board of Equalization which starts meeting June 1.”

If a property owner still wants to challenge the decision, they can appeal to the State Board of Equalization.

Treadway said hearings in the assessment office will be by walk-in or by phone. County and state Boards of Equalization will be by appointment.

Basis for appeals would include an owner’s property value being too high or too low or an incorrect classification of the property.

To contact the property assessor’s office, call 753-1670. The office is located in the Washington