Sumner County Homeowners Question Lower Property Values -- Mikayla Lewis
Updated: Thursday, July 3 2014, 10:55 PM CDT
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Many of these homes sit on solid foundations, but some
homeowners in Sumner county say they're property value is a moving target.
One resident who
received multiple assessments this year says the county valued her property at
a little more than $135,000. Shortly after, she received an appraisal at more
County Executive. Anthony Holt says, ""Our
appraisals are down 3%. So what that means is that property value within the
whole county has depreciated 3%."
County executive Anthony Holt is concerned about the impact
of lower assessments county-wide.
In order to collect
roughly the same revenue as last year, the tax rate has to be increased by
6-cents on every hundred dollars of assessed value.
Anthony Holt says, "Real estate professionals, builders
and banks and other financial institutions in our county feel like things are
going well in Sumner County. We're adding jobs, many people are moving
County Assessor, John Isbell says, "It's not enough to
put us in a positive column for the property assessments. Subsequently we've
had to adjust the certified tax rate through the state board of equalization
which has caused the tax rate to go up to equalize the values"