KNOXVILLE, Tenn. (WVLT) — Many Knox County homeowners reevaluated their properties over the weekend in what Knox County property assessor John Whitehead said was “sticker shock.” Whitehead said a 40% increase in property value would keep a homeowner’s property tax the same as before.
“on top of it [40% property value increase]It’s going to go up, and below that, it’s going to go down,” Whitehead said.
Whitehead said the property appraiser’s office revalues properties based on homes sold in Knox County. He said the housing market is through the roof, driving up the value of homes throughout the county and state. Starting January 1, 2021, he said some Knox Company homes have increased in value by 22%.
“Counties and cities can’t make money in the process,” Whitehead said. “For them, it should be revenue neutral. Adjustments will be made in the tax rate for them to bring out the same amount.”
Whitehead said every time his office revalues homes, about 20,000 homeowners file appeals on the revaluation. The county said sufficient evidence is needed to grant the appeal, which includes finding homes in the area that have sold at a rate that the homeowner believed to be their real property value. Whitehead said the county makes mistakes and tries to fix them all if there are any problems.
Homeowners can call 865-2215-2006 to appeal in person. Appointment dates are April 18-23 and April 25-29 and will take place at Cedar Bluff and the Fountain City Library. People appealing for commercial building revaluation will meet in person in the old court.
Appeals will be made online and by phone from April 11-29. You can call 865-215-3003 or visit their website here to file an appeal.
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