Each of Tennessee's 95 counties has an assessor of property. I was elected to serve Hamilton County in 2016, and in September of this year, began my third term. Earlier, I served for four years on the Hamilton County Commission. Below are several commonly asked questions about property tax assessment:
How are property values set?
The Assessor of Property's office is probably the most complex office in county government, and is mandated by state law to set current fair market values based on such factors as comparable sales or the income a property produces for the owner. Comparable sales are derived from sales of similar properties based on age, size and description.
What is a reappraisal?
A reappraisal (or revaluation) of property takes place every four years in Hamilton County, which is mandated by the state. Currently, we have more than 184,000 properties to review.
Does a revaluation cause a property tax increase?
Once again, state law mandates that the property tax rate be decreased by the overall percentage increase of properties in the county. Following the 2021 reappraisal, Hamilton County's property tax rate decreased from $2.765 to $2.237.
What is assessed value?
Assessed value is the percentage of value that a property owner pays taxes. The assessed value of agricultural and residential property is 25% of market value. For commercial and industrial properties, it's 40% of market value.
Is your office audited or regulated?
Yes. The Office of the Comptroller reviews quarterly sales reports from our county and performs an annual review of sales and practices in my office.
