Four major metropolitan counties in Tennessee recently announced tax rate changes for 2022. The adjusted tax rates will be reflected on the tax bills issued in October.
Knox and Rutherford counties conducted reappraisals in 2022 for the first time in five and four years, respectively. The average increase in property values was between 34–36%. Values set in the reappraisal years should remain in place until the next reappraisal.
Pending any major budget developments, the 2022 rates should remain relatively stable until the next scheduled reappraisal in each jurisdiction: 2025 for Davidson and Shelby and 2026 for Knox and Rutherford.
The experts at Ryan will continue to research and monitor changes across the state of Tennessee. We encourage you to reach out if you have any questions on how this may impact your property.
TECHNICAL INFORMATION CONTACTS:
Brad Wallace
Principal
Ryan
404.942.6346
brad.wallace@ryan.com
Caitlyn Milks
Senior Manager
Ryan
404.942.6380
caitlyn.milks@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.
- Topics
- Brad Wallace
- Property Tax
- Tennessee