Reappraisal Notices Have Started Arriving in Mailboxes, but What Does this Mean?
Reappraisal notices have started arriving in the mailboxes of Hardeman County property owners, but what do these notices mean?
Media students at Bolivar Central High School recently sat down with Hardeman County Assessor of Property Josh Pulse and created a public service announcement to inform the public about the basics of the reappraisal process.
In the video, Assessor Josh Pulse explains the process, “Hardeman’s County is about to undergo our state mandated, revenue neutral reappraisal. What this means is we are about to see the values of all property in Hardeman County change. This occurs every five years here in Hardeman County. This is not about raising taxes. This is about fairness, not money. Remember, the last time we reappraised was in 2018 and we all know what property values have done since 2018, they have increased all across our state and Hardeman County is no exception. For the last few years we have experienced record high sales on all types of property; farmland, commercial, mobile homes, and especially in single-family residential homes. Our values continue to increase. Our properties are bringing more than they ever have before. The reappraisal will bring all values to market value. While you may be shocked at the increase in value, ask yourself, if you were to sell your property would this be a fair price? If we are close, then we have done our job. Most people do not know this: one very important thing to remember is that this reappraisal is revenue neutral. The County cannot bring in one cent more than it did the prior year. Thus the term, revenue neutral reappraisal. The county and each municipality will be given a certified tax rate that is set by the State of Tennessee. This rate will ensure that the reappraisal is revenue neutral. The County Commission, and the city councils, and each municipality will have to either accept the certified tax rate and remain revenue neutral, or they can vote to increase that certified tax rate. If they do that, that will result in a tax increase. Properties, they go up and down in value over the years and we make sure the property role is updated every five years to show the current value in order to treat everyone fairly.”
Watch the full announcement to learn even more about the process.
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