Property values to increase, tax rates will lower

“As most of you may be aware, Lewis County had to turn over our county wide reappraisal in 2020. We have been on a five year plan set up by the Tennessee State Comptroller’s Office and governed by Tennessee law since I have taken office,” Travis R. Hinson, Lewis County Property Assessor said this week.

All counties in Tennessee are required to complete a reappraisal of all real property on a schedule provided for in law and approved at local and state levels (Tenn. Code Ann § 67-5-1601). A reappraisal concluding in 2020 has been in process since 2014, 2015, or 2016, depending on whether a county had adopted a 4-, 5-, or 6-year cycle.

Assessments in a reappraisal are as of January 1 of the current year (Tenn. Code Ann § 67-5-504). This assessment change notice, by law, reflects the estimated value of this parcel as of January 1. Events occurring after January 1, such as COVID-19, may or may not ultimately affect property values but cannot be considered when establishing the January 1 value.

“We have finished up all numbers and projections for the next 5 years based on the last five years of housing and vacant land sales in Lewis County,” Mr. Hinson stated. “Some of you that have sold or bought property will know about these sales because you are the ones that helped us establish these numbers.

“The county tax rate changes during a reappraisal year to reflect the raised appraisal rates resulting in many property owners paying less in taxes than the previous year due to that happening.

“The purpose of the reappraisal is to ensure that all properties are assessed fairly at a uniform level of assessment. Assessments are adjusted to 100 percent of market value at the time of reappraisal. To analyze the real estate market, the assessor will review recent property sales and other indicators.

“While we realize the timing is terrible, all this was set into motion and the majority of the work was finished before our current crisis. We appreciate everyone’s help and understanding as we attempt to do this under these extenuating circumstances.

“Please do not hesitate to call us and also please give us time to contact you back if you have questions about the values. We will be in the Assessor’s Office during business hours for phone calls only to comply with the Governor’s Safer at Home Order for the foreseeable future. We will be working to do our best to keep focused on doing what is right and fair for all.

“There will also be employees from the State Comptroller Office who have worked very hard with us on setting these assessments available to answer any questions you may have.

“Thank you again for your patience and understanding during this crazy time in our lives. God bless you all and please stay safe.”

For more information contact the Property Assessor’s office at 110 N Park St., Room B09, Hohenwald TN 38462; 931-796-5848 office or 931-306-8832 cell; or by email at [email protected].