RED BANK, Tenn. — An audit of the City of Red Bank’s fiscal year 2025 budget has uncovered an error in the county’s property tax calculations that shortchanged the city by more than $900,000.
The issue stems from Hamilton County’s 2025 countywide property reappraisal, which required the Assessor of Property to calculate a new certified tax rate (CTR) for each local government, including Red Bank.
State law mandates that this rate be revenue neutral, generating the same total property tax revenue as before the reappraisal…