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mike's avatar

Per state law cities and counties are required to lower their tax rate in a reappraisal year so that they are revenue neutral. Some folks will pay less and some will pay more in that year, but the county can not collect any more tax dollars than the year before. You will have to find out what the average increase percentage is for the county as a whole, then you will know the exact damage. For example, if the average increase is 48%, then folks above that will pay more and folks below will pay less. Nikki it will not be a full 71% in your case. On the other hand, they are allowed to change that tax rate the following year.

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Kathy's avatar

One other comment to this, TN is one of four states that does not have a state imposed limitation on property taxes, New Hampshire, Vermont, and Hawaii are the other three. I moved from New Hampshire in 1989 because it was not affordable to work in NH and own property there, my folks came south as well. People that were buying up property were those that had previously lived in Boston and commuted to NH for work, NH is a small state and this was common practice. I think we are seeing much of the same thing here.

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