KNOXVILLE, Tenn. (WATE) — Knox County reappraises property every four years per state code and it has left many homeowners confused.
In a video posted to Facebook Knox County Mayor, Glen Jacobs, and a property assessor, John Whitehead, explain what this means.
They explained that it is not a tax increase. Whitehead said he expects a 38 to 40% increase will be the break even point. Jacobs explained this “means that if the assessed value is about 40%, that’s the break-even point. They’re not going to see any increase in their property taxes.”
Jacobs then goes on to explain that it is not a hidden way to tax properties, but it is a state law that properties be reassessed every four years.
For more information or to watch the video click here.