Any day now you will receive your new property appraisal, and I imagine there might be some sticker shock. The median property value throughout Davidson county has risen astronomically since the last appraisal in 2021. The percentage increase in property values is used to determine the certified property tax rate (CTR), the starting point for determining what our property tax rate will ultimately be. And at this point, what that will be is anyone's guess.

The state of Tennessee requires that a reappraisal be revenue neutral, meaning the city can’t get a windfall from an increase in property values.To accomplish that, the CTR has to be adjusted. And when values go up, the CTR must go down.

The CTR is not necessarily the final tax rate, unless the Mayor and council decide that the revenue brought in under the CTR can fully fund and cover the services that Metro needs to provide its citizens: schools, public health, parks, libraries and arts, police and fire, emergency services, etc. But a problem inherent to this taxation model is that if the CTR is not increased, Nashville does not capture the increased tax revenue from new properties and construction since the last reappraisal. We made that mistake in 2017, and paid a heavy price for it. Davidson County has had a huge increase in new construction since 2021, so a lot of money will be left on the table if the CTR isn’t increased.

On top of that, the city is facing tough financial straits this budget cycle. Nashville gets a full 15% of its funding from the federal government, either directly or through monies from the state. But with the new administration on a spree to slash all investment in our country, even pulling back monies already approved and allocated, we are going to feel a big pinch. We are going to have fewer choices about how to allocate our tax dollars, and have to scramble to put something together just to cover basic services. 

The final adopted budget will ultimately determine what our property tax rate will be. We don’t want to make the same mistake we made in 2017 again, and leave revenue we need unrealized. But this year, that decision will be made based not just on the priorities we outline in our budget proposals, but also on what is realistic with the new reality we face federally. All I know is that we will make our decisions based on what is best for Nashville going forward. 

So be on the lookout for you new appraisal. And if you think it's incorrect, and your property has been overvalued, you can appeal. The process is outlined here.

Don't forget the Legislation Information Center where you can access all council records from 1998 to present, including meeting agendas and legislation, and council committee records. Legistar makes it's easy to find out just about anything you want to know. You can watch committee and council meetings live here, or taped here.

hubNashville is where you quickly connect with non-emergency services. Just fill in what you need, and voila, it's on the way!

Want some info on that house around the corner or down the block? You can find it on ParcelViewer, Nashville's one stop shop for information on ownership, taxes, zoning, and more. Type in the address and all the information is at your fingertips.

Nashville is brimming with resources, and in addition to calling 211, this guide can help identify where you can get local assistance with everything from food, housing, transport and childcare, to mental health and legal aid, internet and phone service, pet care and more. So don't hesitate to seek out help if you need it. It's here.