CLARKSVILLE, TN (CLARKSVILLE NOW) – The new certified property tax rates have been set for the City of Clarksville and Montgomery County, with the city rate dropping to $0.7488 (down from the current rate of $1.23), and the county rate at $1.832 (down from $2.99).

Each property tax rate is per $100 of assessed value. So, for example, if your home’s market value is $200,000, your assessed value is 25% of that, or $50,000. With the new certified county tax rate of $1.832 per $100 of assessed value, you would pay $916 in county taxes. ($200,000 x .25 / $100 x $1.832 = $916)

Montgomery County Assessor of Property Erinne Hester told Clarksville Now the certified tax rate balances the total property tax revenue collected between tax year 2023 and 2024. The rates were calculated based on the overall value of countywide properties increasing 65% during reappraisal this year.

What happens next

According to the Comptroller’s Office, Tennessee law requires the state work with a county’s assessor of property and the county mayor to adjust the property taxes scale. “So, when appraisals go up, your (certified) tax rate goes down,” said the Comptroller’s Office in an educational video.

The ball is now in the court of the City of Clarksville and Montgomery County Government. The City Council and County Commission will separately have to vote on whether to leave the tax rate alone (making the total revenue stay the same), or to increase it (to capture revenue from increased property values), or even to decrease it.

Clarksville Now has reached out to City Mayor Joe Pitts and County Mayor Wes Golden.

The City Council and County Budget Committee will both hold meetings on Thursday, June 20, to discuss how they want to approach the certified tax rate. The City Council will meet in a special session at 4:30 p.m., and the Budget Committee will meet at 4 p.m.

In addition, the county will also hold budget hearings leading up to July to continue the conversation.

Chris Smith contributed to this report. 

Correction: The county will only be holding budget meetings this week.  

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