You may already know this, but it was news to me. I was just checking things out before writing my yearly property tax check (paying yearly will make you a Republican), and I saw this message from Metro Property Assesor Jo Ann North:
2005 was the most recent Mass Reappraisal Year for Davidson County, updating the values on all taxable real properties to achieve equity. A mass reappraisal takes place every four years in Davidson County, so the next mass reappraisal will take place in 2009.
I don’t know what this will mean in your household, but in ours, reappraisal means our annual taxes go up. Most of the time, pretty substantially. It’s like a tax hike without anyone having to take the political hit for instituting a tax hike.
I understand the need for it, and I know, slump or no slump, that property values in Nashville have increased since 2005. It’s just a bummer to have to guess how much my taxes are going to go up, and set aside that much extra each month. And, heaven help me if I guess too low.
We now have to set aside an amount each month that equals our first house payment. This means:
a) We’re getting old and
b) we should get on our knees and thank God we have the ability to live in a neighborhood where property values are what they are.
However, I still reserve the right to grumble when I write that check.
Anyway, if you live in Davidson county, be aware that this is coming, and that you’ll most likely be paying more in property taxes next year.
P.S. – One of the features I love about the assessor’s site is you can “peek” at your neighbors’ property values. Since my neighbors all put up privacy fences, this is the only voyeuristic fun I get to have anymore.