Should you expect a huge property tax increase?

The big news is out.   The recent reappraisal by the Davidson County Property Assessor shows the value of real estate in Nashville is up 37% over the last four years.  

The smallest increase is 24 percent, with one area in East Nashville seeing a 93% increase in property values.  

For a map of the increases in your Metro Council District, go here:

http://www.tennessean.com/story/news/2017/04/21/final-reappraisal-nashville-property-values-soar-record-37-percent/100704912/

Now this does not mean that your property taxes are automatically going to increase.  State law prevents Metro Council from increasing the total amount of revenue collected during the reappraisal.   And Mayor Barry has already stated that she will not seek an increase in property taxes this year.  

How will this affect you?

• If your increase is higher than the 37% average for Nashville, you will likely see an increase in your 2017 property taxes.
   
• If your increase is close to the 37% average for Nashville, your taxes in 2017 will likely be similar to your 2016 property taxes.
   
• If your increase is below the 37% average for Nashville, you may even see a decrease in your 2017 taxes as compared to last year.  

The areas hit hardest are all part of the urban core that surrounds and includes downtown Nashville.  Neighborhoods like East Nashville, Inglewood, Germantown, North Nashville, The Nations, Charlotte Park, 12 South, Waverly-Belmont, and Wedgewood-Houston.

What can you do?

You should be receiving a notice in the mail sometime over the next few weeks.  You can also check the Davidson County property tax assessors website for the latest on your home:  www.padctn.org

Metro Nashville offers tax relief for the elderly, disabled and poor, but the deadline to submit your application was April 5th.  Applications for tax relief will re-open in October.

If you believe that your re-appraisal is incorrect, you can appeal your taxes with the Property Assessors office.  

The deadline for Informal Appeals is May 19th, 2017.  

The deadline to schedule and Appeal to the Metro Board of Equalization is June 23, 2017.  

If you need more information or clarification on the appeal process, please give me a call at 615-519-0983. I’ll be glad to help any way that I can.  

The Daily Deal in Nashville is this traditional brick home in a great location in Brentwood and listed for less than $400,000.

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