Metro Nashville property owners by and large agreed with the county’s recent reappraisals of their home values.
Every four years the county reassesses property values and this year it coincided with a steep decline in the housing market. Despite that, only 3.8% of Metro’s property owners appealed the county’s appraisal. That’s a slight increase over the 3.4% who appealed in 2005, the last time Metro reassessed property values.
Out of the 9,000 residents who appealed, 54% received a reduction. Metro’s property assessor George Rooker says most of the appeals came from council district 19, which runs between MetroCenter and Hillsboro Village.
“The inner city areas were the areas that went up by the largest percentages: East Nashville, Downtown, Hillboro Village. The long and short of it is there definitely seems to be a higher rate of appeals in areas where value increases were the highest, which is something you would probably expect to see.”
Even though council district 19 had the most appeals, only 25% of requests to lower the property values were granted there.
Property owners denied a reduction can appeal to the state, but must do so within 45 days of receiving Metro’s ruling.
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