CLARKSVILLE, TN (CLARKSVILLE NOW) – Postcards will go out this week showing the new property values for taxation purposes, and Montgomery County residents may be in for some sticker shock: Values have increased almost 65% since the last valuation five years ago.

“The value increases will be significant because Montgomery County has not revalued since 2019, when the local market started its historic climb,” Assessor of Property Erinne Hester said in a news release.

“This revaluation accounts for five years of market growth, not just the change from 2023 to 2024. Reappraisal is a revenue-neutral process based on the historical capture of what has already happened and includes the amounts based on willing sellers and willing buyers, the quality of the building, and the location of the property.”

By comparison, values increased only 23% during the last reappraisal year in 2019, according to Leaf-Chronicle archives.

Montgomery County isn’t alone. Market increases in reappraisal rates throughout the state have been at historical highs, especially in Middle Tennessee. Here are this year’s percentage increases for surrounding counties on five-year cycles, shared by the Tennessee Comptroller’s Office. All percentages are based on assessed value and include new construction.

  • Cheatham: 72.8%
  • Sumner: 67.1%
  • Montgomery: 64.9%
  • Dickson: 52.7%

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How property valuation works

Cyclical revaluations are a state of Tennessee requirement for all 95 counties. In Tennessee, reappraisals are conducted on four, five, or six-year cycles. Montgomery County is on a five-year schedule, with the last revaluation completed in 2019, according to the news release.

A county assessors’ main responsibility is to determine a property’s fair market value and classification rate as of the reappraisal year. Those values are then applied to a tax rate established by the County Commission and, if applicable, the City Council. Assessors do not collect taxes or determine a local property tax liability.

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“It is my team’s responsibility to gather good data. We have conducted a visual inspection of every real property in Montgomery County over the last five years that shows the outside of a property. If there are issues inside the property, we are unaware unless the property owner brings it to our attention. Owners should contact us immediately if they disagree with their property value. We do not want anyone paying more or less or more than their fair share,” Hester said.

Once the Montgomery County revaluation is approved by the Tennessee Division of Property Assessments, the new, equalized values will be published on the Montgomery County Assessor of Property webpage.

Dates to remember

  • May 20: State deadline to notify property owners of any change in their assessment values. Notifications will be mailed to the address on record on or before Monday, May 20.
  • May 31: Last day to file an appeal with the County Board of Equalization.
  • June 3: Appeals to the County Board of Equalization begin.
  • July: The legislative bodies of the County Commission and the City Council set the respective property tax rates.

Greenbelt Program and certified tax rate

Property owners enrolled in the Greenbelt Program are protected under state law to a cap of 6% per year or 30% on their land value. Greenbelt Program assessment change notices will show the new land market value for 2024 in addition to a capped “use value” for land that is currently enrolled in the program. All improvements (structures) on the property are valued using the same methodology the rest of Montgomery County, the news release said.

For information on how property taxes are calculated, the appeal process, the certified tax rate (CTR), and how to calculate taxes, read this brochure. The valuations for properties affected by the Dec. 9, 2023 tornado, are based on what existed on Jan. 1, 2024.

Tennessee is a truth-in-taxation state. This means a new, revenue-neutral, certified tax rate (CTR) will be calculated. Click here for more information on the CTR.

PREVIOUSLY: Property reappraisal coming up across Montgomery County, residents urged to work with Assessor’s Office