The costs of residential properties in Rutherford County have increased greatly and the average time a home is on the market has decreased, according to Rob Mitchell, Assessor of Property…
As for the growth and the price increase of homes in Rutherford County…
Mitchell told WGNS that rent has also increased by 16%, which does not include in any added fees that an apartment may charge a future tenant.
As for property taxes, 2022 is a re-evaluation year. Because this is an evaluation that is addressed every four years, the value of your current property is from 2018. Therefore, property will be re-assessed in 2022 to determine an updated value of your home. The new value placed on your property will determine the amount of property tax you pay in the future.
Scroll down for more information on how the property tax works...
Continued...
Rutherford County performs a state mandated mass reappraisal every 4 years. Eight years ago, the reappraisal was in 2014. Four years later, another reappraisal took place in 2018, which is what properties are currently valued. Therefore, the next reappraisal will take place in 2022.
Assessment change notices will be distributed in the spring. These notices will include notification of any changes made to property appraised values.
The Assessor’s office does not raise or lower your tax rate; that is a function of the Rutherford County Commission. The Assessor does, however, work to administer Tennessee tax laws while appraising all property subject to taxation as mandated by the General Assembly.
For more, CLICK HERE.
