Knoxville Home Appraisals: Equaling it Out

County officials are reassuring property owners not to be concerned about recent high property appraisals because, by law, the county cannot increase revenue through a reappraisal.

Well, yes and no. Total tax collections are not supposed to increase, giving the county a windfall through higher home values. But that doesn’t mean individual property owners’ taxes won’t increase. Some people will have property values go up and some will go down.

An individual property owner may wind up paying more tax if the appraisal jumps high enough.

The new appraisals are for a four-year period and although property values may have declined over the last year, they are still up for the past four years.

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