As I understand Tennessee law, when property in a taxing entity - city and county here - is reappraised the tax rate per $100 is supposed to be adjusted so that the total revenue for the entity is …
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As I understand Tennessee law, when property in a taxing entity - city and county here - is reappraised the tax rate per $100 is supposed to be adjusted so that the total revenue for the entity is essentially unchanged by the reappraisal. Usually this means the rate per $100 decreases. This does not mean the total tax bill on an individual property decreases. That individual tax bill could increase, decrease or remain the same. The law was intended to prevent the entity from using the reappraisal to avoid specifically voting for a tax increase.
Charles Brumbelow 37160
