RUTHERFORD COUNTY, TENN – As Middle Tennessee counties continue to prosper, the services provided by local government offices inevitably grows. A sizable portion of funding that pays for the government to operate, comes from the money generated by property taxes. Those taxes are paid by homeowners, landowners and the companies or individuals that own commercial properties in the community.
In Rutherford County, the assessor of property performs a state mandated reappraisal of properties every 4 years in order to bring property values to current market values. Property owners then pay their property tax, based on the assessors appraised value. As more and more people move to communities like Murfreesboro, Smyrna and even rural areas like Eagleville, the inventory of homes decreases... That was Tennessee Comptroller of the Treasury Jason E. Mumpower.
The Comptroller has visited with city and county leaders in multiple towns where he has discussed increasing the frequency of reappraisal's... He is currently working on legislation to change the reappraisal cycle. Mumpower said...
Values of properties will continue to rise as the demand for housing continues to increase with new residents moving into the state. Mumpower said, “The housing supply is short and the demand is high.”
For more information on the Tennessee Code Annotated that outlines property reappraisals in the Volunteer State, see T.C.A. § 67-5-1601.
