Metro’s property tax calculator helps homeowners

NASHVILLE, Tenn. (WTVF) – Property taxes in metro Nashville have been the subject of debate for months. A referendum on the city’s property tax rate charter could have ripple effects across the county.

Before that happens, Metro officials want you to know what these changes mean for your home.

Metro Nashville’s Office of the Real Estate Appraiser wants to make sure they have the most recent information on your property. The results of their recent appraisal, which were mailed to homeowners, showed property values ​​countywide had increased by a median of 34.05%.

Mayor John Cooper has announced the Certified Tax Rate or (CTR) and is expected to base his proposed budget for the coming fiscal year on that figure. State law requires that a CTR be set after each mass reassessment, as we did this year. The purpose of which is to prevent local governments from generating tax revenue on properties while due to a sudden increase in value. Metro cannot therefore generate more income on the existing construction than in the previous tax year.

County assessor Vivian Wilhoite said that although it had only been a few weeks since the city’s last property appraisal, the phone calls haven’t stopped.

It’s not that this call center hasn’t been busy in the past. There is just a lot of uncertainty with Metro’s property tax rate, that people want to know what to expect.

“Take a look at your value. We want to do it right and we want you to trust our product. If you don’t agree, call,” Wilhoite said.

The property tax calculator was built just for this reason. With it, homeowners can get an estimate of their tax bill based on the CTR. In this case, it’s $ 3.288 per $ 100 of appraised value or 0.03288.

Wilhoite says a pending vote to prevent Metro from raising property taxes has only increased the importance of getting accurate information for homeowners.

“Now more than ever, we need to define the right values. This is how it touched us. To make sure we’re not just transparent to make sure we’re using the right tools and that we are able to articulate the values ​​to the owner on how we get there, ”Wilhoite said.

Homeowners can call the real estate appraiser’s office to appeal the value of their property. The deadline for an informal review is May 21 at 4 p.m. If you miss the informal appeal period or disagree with the outcome of the appeal, you can schedule a formal appeal to the independent Metro Board of Equalization by calling 615-862-6059. You can schedule your call between May 24 and June 25.

Esther L. Steinbach

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