MURFREESBORO, TN — In the last four years, property values in Smyrna climbed 43 percent and in La Vergne 49 percent according to Rutherford County’s Assessor of Property.
A countywide reappraisal, the first since 2014, showed significant jumps countywide in property values, consistent with a skyrocketing population and a concurrent spike in value in Davidson County.
"You have people looking for affordable housing in Nashville, and there’s very little," Assessor Rob Mitchell told WSMV. "We had 10,000 people moving into Rutherford County every year over a four-year reappraisal cycle. That’s 40,000 people. That’s another La Vergne every four years."
Mitchell said the county added $1 billion in total value in six months, now topping $8 billion.
La Vergne and Smyrna had the biggest four-year jumps of the county’s cities. Eagleville was up 40 percent and Murfreesboro 35 percent.
The median increase countywide was 39 percent.
State law prohibits local governments from increasing revenue based solely on reappraisals, thus anyone whose values increase by more than the median of 39 percent will see a bigger county tax bill and those below will see a lower one. The same rule of thumb follows for the city increases.
Valuation notices – which are not tax bills – will be sent out this week. Property owners can request a hearing with the Board of Equalization by calling the assessor’s office at 615-898-7750. They will begin setting appointments in mid-May; the board will convene June 1.
Image via Rutherford County Assessor of Property