UPDATE: Real Estate Revaluation and Equalization in Rutherford County - Real Estate Values AND Prices are UP Higher than Ever

Apr 26, 2022 at 06:26 pm by WGNS


RUTHERFORD COUNTY, TENN. – Another update for Rutherford County property owners… A special “Notice to Taxpayers of Rutherford County Tennessee” is being mailed out in May from the Assessor of Property. The notice will allow property owners to see how much their land and home values have increased since the last time properties were assessed by the Assessor of Property more than 4-years ago.

Before we go any further, Realtor David Estes explained to WGNS what some of the current real estate prices look like in Rutherford County…



Estes is with Parks Real Estate in Smyrna.

For those who didn’t know, 2022 is a revaluation and Equalization year for Rutherford County. The Rutherford County Board of Equalization will convene on June 1st, 2022, to hear valuation appeals for all real and personal properties. It is every taxpayer’s right under the law. In other words, if you disagree on what the Assessor of Property values your home or land at, you can file an appeal to that suggested value. 

Scroll down to continue reading about real estate values in Rutherford County…

 

Real Estate Values in Rutherford County – Continued…

Middle Tennessee has experienced dramatic growth in population since the last revaluation in 2018. The above “heat map” represents the median change by County Commission district in Rutherford County, which WGNS released last week.

The median increase in values between 2018 and 2022 for Rutherford County Tennessee is 44 percent! This is on par with increases seen in all major population centers in Tennessee recently.

What this means is that when the cities and county governments in Rutherford County calculate a revenue neutral tax rate for their jurisdictions; it will be record low value as well. Citizens should understand that these rates will produce revenue numbers from the tax base which are equivalent to the previous year’s tax levy. The tax burden is redistributed based upon the demand in the market for property types.

Assessment change notices will be arriving in mailboxes around May 10th. The Rutherford County Assessor of Property has a website address of RCPAtn.com/cboe. You can also call their office at 615-898-7750 if you have any questions.

County Board of Equalization Members:

• Delia Goodman, Richard Reeves, Dan Alcorn, Ben Weatherford, Greg Tucker, Shelby Hunton

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