Nashville property valuations — and the resulting tax bills — have been generating controversy from businesses that fear they’ll have to close because of the costs. Starting Tuesday, May 26, property owners can begin formally appealing their assessments.
So far, owners asked for “informal” reviews of valuations for 2,901 parcels. Data provided to WPLN News shows that 1,422 — or 49% — ended up getting their values changed. Those changes are worth $54 million, and will lead to lower tax bills for some.
But the process isn’t over. Owners who still disagree with assessments can now pursue more formal appeals. The deadline to ask for an appeal through the Metro Board of Equalization is June 26. To request an appointment, call the Office of Assessments Call Center at 615-862-6059 between 8:30 a.m. and 4 p.m.
More: After last year’s property tax increase, mayor plans to hold city spending at $3.8B
Meanwhile, a new state law could end up impacting tax bills in one area of Nashville. The state is creating a new pathway for businesses within the “Tourism Development Zone” to get tax relief.
This area is roughly 3 square miles around downtown and was created to funnel a portion of tax dollars to pay off the Music City Center. That convention center has proven more lucrative than first projected, and the state will soon update how excess dollars are spent.
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