JOHNSON CITY, Tenn. (WJHL) — The question is unavoidable for property owners who’ve seen their lives turned upside down by heavily damaged or destroyed homes — am I going to have to pay full property tax on the wreckage that’s left, will my bill be prorated or can I expect something else?
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It’s something Northeast Tennessee’s county property assessors have spent countless hours trying to help answer as they scramble to determine new values. The final answer will be up to Tennessee’s General Assembly, Tennessee Comptroller of the Treasury Jason Mumpower said during a recent visit to Johnson City focused on hearing from those assessors and answering their questions.
Hundreds of millions of dollars in lost property value, hundreds of thousands in taxes due and significant county revenues from those taxes hang in the balance.
“The legislature and Gov. (Bill) Lee have a strong desire to help the property owners affected by this storm,” Mumpower said.