Davidson County’s 2021 property reappraisal has been completed, and if you own property here, you’ve likely received a notice in the mail detailing your home’s new market value (if not, find it via the Assessor of Property).
Not to be confused with property tax bills sent out in October, Tennessee law (Section 67-5-1601) requires counties to periodically reappraise all real property to reflect market value. In a rapidly growing area like Davidson County, it’s not uncommon for values to skyrocket during the reappraisal process every four years. Let’s dig in + see what that means for you.
What did the 2021 reappraisal look like?
Overall, property values grew a median 34% countywide, with projected increases ranging from 20% growth in District 24 (Sylvan Park + White Bridge) to 59% growth in District 21 (Buena Vista + Elizabeth Park).
Will my property taxes decrease, increase, or stay the same?
The state’s certified tax rate law requires local governments collect the same amount of revenue as the year before reappraisal. This means if total assessments go up, the tax rate must come down, so it is possible your taxes could go up, down, or stay the same.
How can I start planning for property taxes?
Property tax bills are calculated by multiplying the assessed value (25% of its appraised value) by the tax rate. For a home valued at $250,000 in the Urban Services District, the assessed value would be $62,500 + your property tax bill would be $2,596.87.
If math isn’t your thing, the city released an online calculator to help property owners estimate how much their annual property taxes could change if the proposed tax rate is approved by Metro Council in June.
Something doesn’t look right. Can I appeal?
The first step in this process is to request an informal review online or by calling (615) 862-6059 by 4 p.m. on Fri., May 21. If you miss this process or disagree with the outcome, you can schedule a formal appeal before the Metro Board of Equalization. Hearings will take place May 24-June 25.
