What This Story Is About
- Knoxville City Council is proposing to change the property tax rate from $2.1556 to $1.3956 per $100 of assessed value following this year’s reappraisal.
Why It Matters
- State law requires the new rate to keep overall tax collections neutral, so most homeowners should see bills close to what they paid before, not a cut.
- The emergency ordinance is on first reading before Knoxville City Council.
For Context
- Countywide property values have risen about 60% since the last reappraisal.
KNOXVILLE, Tenn. (WVLT) — Knoxville homeowners will likely see a different tax rate on their next property tax bill because of this year’s reappraisal.
Knoxville City Council is proposing to change the rate. An emergency ordinance on first reading would amend the city’s Tax Rate Ordinance to adjust the rate from $2.1556 to $1.3956 per $100 of assessed value, as required under Tennessee Code Annotated 67-5-1701 to set a certified tax rate.
What the change means for homeowners
While the rate would be lowered, the Knox County Property Assessor’s Office says not to expect a big drop in tax bills.
Chief Deputy Assessor Jim Weaver said the change is designed to keep tax collections the same, not lower them. Most Knoxville homeowners should see a bill close to what they paid before…