The Jackson County Board of Equalization will start hearing property value appeals from citizens Monday.
Chairman Frank Hardegree said residents who feel their property was overvalued in an assessment can appeal that evaluation to the board, which will come up with their own valuation of the property based on a variety of factors. Hardegree said the majority of the property appraisals taking place across the whole Upper Cumberland undervalue the property being assessed.
“There’s very few that come in that’s actually overvalued,” Hardegree said. “I mean, lot of people, they think their property, you know, what it was worth five years ago and what it’s worth in today, in 2024, is a different situation altogether.”
Hardegree said the board looks at factors including the location and quality of the land, the presence of any floodplains, and whether or not the land passes a percolation test. He said the board works hard to make sure their decisions are fair and consistent for all citizens who come to them.
“If they’re too high, then we have the authority, we can lower it,” Hardegree said. “But we have to justify to the state of Tennessee why we have decreased the assessment.”
Hardegree said citizens unhappy with the board’s decision can appeal that decision to the state’s Board of Equalization, although he also said this is uncommon.
“Generally when that happens it’s on a commercial situation,” Hardegree said. “But for our residential or our unimproved tracts, it’s rarely ever appealed. But we welcome, you know, if they – we welcome to appeal if they so desire.”
Hardegree said citizens looking to make an appeal have to set up an appointment with the board through Assessor of Property Kaleb Allen.
He said he expects the board to be hearing appeals through Friday, June 7, although the process could go into the following week if enough cases are brought to them.
“Generally, in our small county, a week is sufficient,” Hardegree said.
Hardegree said the region is currently a seller’s market in terms of real estate due to the rising property values, lack of inventory, and number of people still moving to the area.
“Interest rates have ticked up in the last year or so, and it’s taken a lot of the first time buyers out of the market because they have a little tougher time qualifying, but still this is a great place to live,” Hardegree said.
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