The Tennessee Comptroller’s office has said it will no longer pursue legislation requiring counties to conduct more frequent reappraisals. John Dunn, the office’s director of communications, said that while Comptroller Jason Mumpower still supports the idea of more frequent appraisals, the office is no longer pursuing legislation to require them.
These reappraisals, an overall assessment of property within a county, are normally conducted every 4 to 6 years. Blount County recently became the first county in Tennessee to go to the three-year plan.
Rhea County Property Assessor Debbie Byrd said at a recent County Commission meeting that there had been a significant increase in property values due to a great increase in market value of houses in the county.
When asking the Rhea County Commission to go to the three-year plan, she said that more frequent appraisals would mean less “sticker shock” when it came time to pay property taxes.
County Executive Jim Vincent told the commission that being on a 5-year reappraisal cycle meant larger taxpayers would get a discount on their property taxes until the next reappraisal due to the ratios that are applied to assess property values. But more frequent reappraisals stop that discount, and the county becomes able to capture the true tax value. “They take us to court and win every time on getting the ratio amount applied to their taxes,” he said.
At two different County Commission meetings, Ms. Byrd told the Commission her reasoning for wanting to go from the five-year plan, which includes two ratio tax applications, to a three-year plan with only one ratio a year per cycle.
The County Commission tabled any proposal until Ms. Byrd could provide them with a date to when the county had to decide on whether to go to the three-year plan or stay on the five-year plan. The item will be discussed at a workshop next Tuesday at 6 p.m. in the County Annex Commission Room.
Today (Feb. 6) is the last day to file legislation for the 114th General Assembly this year.
Members of the Tennessee Senate and House of Representatives recently re-elected Mr. Mumpower as Tennessee’s Comptroller of the Treasury. The vote was taken during Wednesday’s Joint Convention of the 114th General Assembly.
The 51-year-old native of Bristol is Tennessee’s 35th Comptroller of the Treasury and was re-elected to his third two-year term. Prior to his election as Comptroller, Mr. Mumpower served as former Comptroller Justin P. Wilson’s Deputy Comptroller and Chief of Staff. He joined the Comptroller's office in 2010. He served in the Tennessee General Assembly as the State Representative for Sullivan and Johnson counties in the Tennessee General Assembly. He was first elected to office at age 23 and during his 14-year tenure, he held the positions of House Minority Leader and House Majority Leader.