Hamilton County Assessor of Property Marty Haynes announced that the first reassessment notices for the State mandated reappraisal were mailed today. Property Assessor Haynes said there are over 145,000 residential notices that will be mailed to property owners in the next several weeks.
The schedule for mailing notices is as follows:
~ Feb. 10 – Brainerd, East Lake, East Ridge, Lookout Mountain, Lookout Valley, Ridgeside, St. Elmo and downtown Chattanooga
~ Feb. 17 – all commercial properties in the County
~ Feb. 24 –Hixson (Chattanooga city limits), North Chattanooga, Red Bank, Middle Valley and Stuart Heights area
~ March 10 – Collegedale, East Brainerd, Concord, Apison & East Hamilton area
~ March 24 – Harrison, Hixson county, Lakesite, Sale Creek, Soddy-Daisy, Signal Mountain and Walden
The State of Tennessee mandates a county-wide reappraisal (TCA 67-5-16010. Reappraisals allow the Property Assessor to adjust property values so every property is appraised at fair market value. Reappraisals eliminate the inequities created over time by changes in the real estate market and they insure fairness and equity for all property owners.
The Assessor of Property reappraises property in Hamilton County every four years. Mr. Haynes stated “the purpose of a reappraisal is not to increase revenue for Hamilton County and the municipalities located therein, but to update and equalize the value of all properties located in the County. Tennessee State Law T.C.A. 67-5-1705 does not allow for an increase in revenue through reassessments, the law states exclusive of new construction and improvements during a reappraisal, each local governing body shall determine a property tax rate which will provide the same revenue as the previous year.
For more information regarding the 2017 Reappraisal visit the property assessor’s website at www.hamiltontn.gov/Assessor