MARYVILLE, Tenn. — State leaders mailed reappraisals to people in Blount County on Wednesday. The Blount County Property Assessor's office valued people's homes higher in the county because of the increase in home prices.
"People are paying astronomical prices for things," said Todd Orr, the Blount County Property Assessor. "We want to get everybody's value correct."
Tennessee law doesn't allow the county government to earn more money from property reassessment. The process has to be revenue neutral.
The increases in the property value across the county means Blount County has to lower the tax rate.
The current property tax rate for Blount County is $2.47 for each $100 of assessed value. Orr estimates that will decrease to approximately $1.60 per $100 of assessed value.
David Davis owns a home in Maryville. His property value increased from $196,300 to $396,900. The increase, with the lower certified rate, means Davis would still pay an extra $368 a year.
The Blount County Commission will take up a resolution to increase the Certified Tax Rate this year.
The resolution, which is on the Blount County Commission's Budget Committee agenda for May 9, would "levy a tax rate in excess of the certified tax rate," the resolution said.
Davis said that amounts to an increase on top of an increase for him.
"Groceries are higher, gas is higher, everything is higher," Davis said. "It's got to come to a stop somewhere."
Blount County Mayor Ed Mitchell's office has not responded to a request for comment regarding the proposed tax rate increase by the county commission.