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Tn Fae 173 Form

Tn Fae 173 Form

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[Music] meet Steve this is Steve's house and this is Steve's property assessment notice if you own property in Tennessee it's the job of your county assessor to figure out how much it's worth depending on which county you're in an updated value for your property is determined every four five or six years during a process called a reappraisal and since property values generally go up over time there's a good chance that your house commercial property or land will be appraised at a higher value Steve's property has gone up in value so what does this mean for his property taxes here's the good news higher values during a reappraisal do not necessarily mean higher taxes Tennessee law requires the state work with your Assessor and County mayor to adjust your property tax rate so when appraisals go up your tax rate goes down it's known as the certified tax rate the concept is simple the new certified tax rate will generate the same amount of tax revenues for your city or county as the amount

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