Wed
Apr 1 2009
06:50 am
Has your home's value increased 16.6% in the last four years?
By: R. Neal

Knox County Property Assessor Phil Ballard says it has. Josh Flory has the details.

Topics:
KC's picture

Of course it's increased.

Submitted by KC on Wed, 2009/04/01 - 7:05am.

Of course it's increased. Hasn't everyone's?

By the way, if you're still interested in that bridge I have for sale....

bizgrrl's picture

Knox County assessor Phil

Submitted by bizgrrl on Wed, 2009/04/01 - 8:18am.

Knox County assessor Phil Ballard told county commissioners Tuesday that preliminary figures show the value of residential and farm properties will rise by 16.6 percent in this year's re-appraisal process.
...
After receiving their appraisal notices, citizens will have a chance to challenge the figures during informal hearings starting April 13. For two weeks, officials from Ballard's office will be available at the City County Building or at the county health department building at 1028 Old Cedar Bluff Road.

This information should be on the front page of the KNS. Citizens should be made aware of the coming re-appraisals before the notices are mailed. They modified the appraisals of homes in Blount County a couple of years ago. It was quite an effort for the county to be available and meet with the citizens that disagreed with the new appraisals. Knox County is much larger, it should be interesting.

smalc's picture

I believe you always have

Submitted by smalc on Wed, 2009/04/01 - 8:35am.

I believe you always have the right to contest a reappraisal, by state law. Whether you'll be successful is another matter. I have know many people contested the last round in Loudon County. I don't think anyone got anywhere with it.

Of course that was before the bubble burst and the county appraisals were actually lower than any professional appraisal you would have done.

R. Neal's picture

We actually have pretty good

Submitted by R. Neal on Wed, 2009/04/01 - 9:39am.

We actually have pretty good appraisers over here in Blount Co. Ours went up like 30% or something last time and we contested and it took about ten minutes to fix. The appraiser, who actually remembered visiting our property and talking with us, had apparently made a "data entry" error on some classification or other that made a huge difference. He fixed it on his own authority and that was that.

bizgrrl's picture

Update: This information

Submitted by bizgrrl on Wed, 2009/04/01 - 9:39am.

Update:

This information should be on the front page of the KNS.

It is!

Greg G's picture

Yeah, right

Submitted by Greg G (not verified) on Wed, 2009/04/01 - 10:19am.

Considering the current economy there's no way. Housing prices are falling all over and I see lots of homes staying on the market in my part of town (n. knox). Has Knoxville bucked some national trend and experienced rapid growth? Obviously not. There have been too many layoffs and several of our major employers like Goody's and White Lilly are gone.

Andy Axel's picture

Backdoor tax hike. Of

Submitted by Andy Axel on Wed, 2009/04/01 - 12:32pm.

Backdoor tax hike. Of course they can say, deniably, that the tax rate didn't go up. This is the same sort of crap that Bredesen pulled when he was mayor and had to fund the Titans deal.

____________________________

Dirty deeds done dirt cheap! Special holidays, Sundays and rates!

Up Goose Creek's picture

State law

Submitted by Up Goose Creek on Thu, 2009/04/02 - 8:41am.

Fortunately the state law says you can't use reappraisals to up the tax rate. So if property values go up 16% the millage rate has to go down 16% to compensate. I was sitting in my bee-autiful walk-in solar collector this winter when the tax appraisers drove up and spent about 5 minutes giving it the hairy eyeball. So y'all probably have nothing to worry about, I bet the bulk of the increase will fall on my shoulders.

I don't doubt the values have gone up 16% in 4 years, that's 2 1/2 years of bubble versus 1 1/2 of decrease and our decrease hasn't been that bad.

____________________________________

"Whoever corrects a mocker invites insult; whoever rebukes a wicked man incurs abuse."

Tamara Shepherd's picture

12% in 2005, but 16% in 2009?

Submitted by Tamara Shepherd on Thu, 2009/04/02 - 9:54pm.

Given that the reappraisal is to adjust for valuation changes over the last four years, I don't doubt that our homes have appreciated somewhat over that long a period.

Still, I'm pretty sure that the average rate of appreciation in Knox for the period 2001 through 2005 was just over 12% (and I recall that my home, in NW Knox County, rose just more than 17% with that reappraisal).

I WAS surprised to learn that home values rose 16.6% this time, when they had risen just 12-something percent last time.

What gives, I wonder?

(Incidentally, I learned just a few weeks ago that state law DOES allow for a rate increase in a reappraisal year, contrary to what I had always heard. The only caveat is that Commission must hold a public hearing on the issue.)

Up Goose Creek's picture

Increase

Submitted by Up Goose Creek on Fri, 2009/04/03 - 5:18am.

Yeah, they can pas a tax increase whenever, I think. Just have to go through procedures and of course it is unpopular. But they don't get an increase based on appraisals alone.

____________________________________
"Whoever corrects a mocker invites insult; whoever rebukes a wicked man incurs abuse."

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