Appraisal appeal filings are now closed

Wednesday, July 1, 2009


By:
Matt Wilson (Contact)

The Hamilton County Board of Equalization still has about 450 residential reappraisal appeals left to hear after Tuesday’s filing deadline, officials said.

“We’re really believing that we’ll be able to finish ours up in the month of July,” said Assessor Bill Bennett.

He said he was not sure how many appraised property values were changed during the appeals process, but that the board “has leaned more toward our value.”

BY THE NUMBERS

* 136,000: Residential pieces of property appraised this year

* 20,000: Complaints received from residential property owners

* 1,200: Formal appeals filed

The average value increase in Hamilton County still likely will be somewhere between 14 and 16 percent, even with some changes due to appeals, he said. The appeals could cause the average to shift a percentage point or two, he said.

After the first batch of county reappraisals was mailed in mid-January, the property assessor’s office was swamped with complaints from homeowners who thought their homes’ values vastly were overstated.

Carol Williams, a retired real estate broker who lives in Ooltewah, said she got the appraised value of her home lowered by about $20,000. Her home initially was appraised at $198,000, which she said was “way off.”

In the assessor’s informal review, that amount was lowered to $191,750, Ms. Williams said, still calling it “a scam.”

“The house across from me is on the market for $174,000 with the same square footage,” she said.

Earlier this month, the Board of Equalization reduced her reappraisal to $178,000. She had sent in documentation seeking a value of $175,000.

“I probably could get the $3,000 less, but I agreed and now it will be submitted for final approval,” she said.

Homeowners still unsatisfied with the appraised value of their property can appeal to the Tennessee Board of Equalization by Aug. 1 or within 45 days of a review by the county board, whichever is later.

Very few appeals for commercial properties are left to come before the county Board of Equalization, Mr. Bennett said. He said most of those cases were referred directly to the state board.

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