New appraisal notices with dramatic upturns in home and business values causing concern among residents about the tax bill.
Putnam County Property Assessor Steve Pierce said the notices are being sent out early to provide taxpayers with more legible information and to help them understand the upcoming changes. Pierce said the office included details on the certified tax rate and how to calculate taxes to prevent public panic over dramatically higher property values.
“We knew these increases, because of the real estate boom after 2021, which were the last reappraisal, these values were going to be dramatically higher than what the 2021 numbers were,” Pierce said. “And we wanted to be able to give more information, the certified tax rate, how to figure the taxes to keep people from panicking and having concerns as much, we hope we helped with that.”
Pierce said residential home values in the county increased by an average of 69 percent while commercial properties rose approximately 74 percent. Pierce said the certified tax rate, which is calculated by the state, drops automatically when property values increase to ensure the county does not increase in that same way.
“I’ve calculated a lot of taxes for people and some of it, or most of them, they’ve gone down,” Pierce said. “There’s a few that’s gone up and I haven’t calculated anybody’s taxes that have gone up a lot.”
Pierce said the reappraisal process is closely monitored by the State of Tennessee to ensure the county follows all legal requirements. Pierce said the primary goal of the assessment is to reset market values so that no specific group of property owners carries an unfair share of the tax burden.
“It’s about being fair and equitable where nobody, no certain group of properties are paying more than their burden their share of the taxes they should be paying,” Pierce said. “I agree people don’t like property taxes, we’re taxpayers, everybody in the office is a taxpayer and we don’t enjoy the tax paying either.”
Pierce said the county is prohibited by law from generating new revenue from higher appraisal values during a reappraisal year. Pierce said the only new revenue the county can receive is from growth, such as new construction projects completed throughout the year.
“The county can’t receive a windfall of taxes during reappraisal year because of reappraisal,” Pierce said. “And that’s what a certified rate is supposed to be.”
Pierce said the assessor’s office is currently offering informal reviews for property owners who wish to contest their new appraisals through the month of June. Pierce said staff members are available to help citizens gather the necessary evidence and documentation required to present a case before the county board.
“We’ll help them with information to, to tell them what to bring to the county board, what the county board would want to see in evidence that their property maybe is not as high as we think it is,” Pierce said. “It’s all based off base rates and all of it’s all based off sales of property.”
Pierce said the office has experienced an extreme volume of phone calls and walk-in visitors since the notices were mailed on Monday. Pierce said he and his staff are working to return all messages and remain transparent with the public throughout the review period.
“I just like for people to know, look, we’re, we’re trying to answer phones if you’re calling and you’re getting, you’re having to leave voicemails, we’re going to get to you, get with you and call you and review what’s happened,” Pierce said. “We’re going to be very transparent with you.”