Frank Coffey appealed his appraisal immediately after the county claimed it nearly doubled. The assessor’s business office lowered it by $50,000.
KNOXVILLE, Tenn. — In April, Frank Coffey acquired a yellow letter from the Knox County Home Assessor’s Office. It mentioned his house’s worth went up from $123,900 to $261,400 — a lot more than double the appraised value.
Anxious about his home tax rate, Coffey submitted an enchantment with the Knox County Assets Assessor’s business. He explained other properties in his region bought all-around that number, but his house was the oldest on the block and demands considerable repairs.
“I took a packet of images of every defect I could locate,” Coffey claimed.
At the time the assessor’s office reviewed the images, they despatched him yet another letter, this just one eco-friendly. The new letter stated his house’s worth would be $211,400, about $50,000 considerably less than what the assessor’s office environment at first approximated.
The house assessor mentioned a lot of of the properties in Knox County have viewed their values skyrocket above the final 5 decades. He explained mainly because of that, the tax price would go down since the county is not permitted to make much more cash from home taxes without having elevating its charges.
Soon after the reappraisal, the Knox County CFO Chris Caldwell stated he expects the Knox County property tax price to be $1.50 per $100 of assessed value, about $.60 reduce than the former charge.
If Frank Coffey hadn’t appealed, he would’ve finished up having to pay about $300 additional for each 12 months in home taxes, primarily based on the estimated fee. Now, he’ll spend $140, which he said is doable, even on a preset earnings.
“A little additional beans and cornbread all through the yr to make up the revenue, I guess,” Coffey mentioned.
The Knox County Home Assessor stated about 10,000 men and women appealed their house assessments, and all-around 3,500 had been accepted by his business office.
The condition of Tennessee offers persons ample possibility to attractiveness their assessments. The Knox County Assessor’s business has that details on its site.