In Case You Missed it: What You Need to Know About Your New Property Value Appraisal

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Reappraisals are conducted every five years as determined by the Robertson County Assessor of Property according to state law. The last reappraisal for Robertson County was 2018.

Values are NOT set by the City of Springfield. The value of your home is determined by the Robertson County Assessor of Property’s office for all of Robertson County – including homes located inside municipalities such as Springfield. The Robertson County Assessor of Property’s office can be reached at 615-384-4311.

Reappraisals are NOT allowed to generate additional tax revenue for the governing entities. Counties and cities must adopt new tax rates after the reassessments are completed that would produce no more than the amount of property tax revenue generated the preceding year. This is called the certified tax rate. Simply speaking, the total property value increase is averaged and the tax rate is reduced by that percentage. For example, in 2018 the City of Springfield’s property tax rate was $1.20 prior to the reappraisal and was reduced to $1.072 after the reappraisal due to the increase in property values.

Q: How will this affect me? 
A: Most will pay the same amount of property taxes as they did the preceding year. However, some will pay a little less (yes, that’s correct) and some will pay a little more.

Q: Why? 
A: It depends upon the increase in your appraisal compared to the average increase citywide. For example, if the total Springfield average increase was 50%, then the property tax rate will be adjusted down by that percentage. Therefore, if your reappraisal increased by 35% but the property tax rate decreased by 50%, then you pay less in property taxes. Alternatively, if your property assessment increased 55% compared to a 50% average increase in property values, then you will pay a few dollars more. (Please note that all values and percentages given are examples only. We do not have the final numbers from the Robertson County Assessor of Property.)

Q: How do I calculate my property taxes? 
A: Property tax rates are issued on each $100 of assessed value. To calculate your city property taxes, find the ‘Assessment’ on your notice under PREVIOUS VALUES (Note: Do not use the new values, and do not use the ‘Appraised Value’. Use the ‘Assessment’ which is 25% of the appraised value for residential property.) Next, divide that by 100 and then multiply that number by the city’s current tax rate of $1.072. Again, do NOT use your new assessment for that calculation as the city’s tax rate has not been adjusted downward to reflect the increase in values. That will happen soon.

Q: What if I have questions about my new appraisal?
A: Please contact the Robertson County Assessor of Property’s office at 615-384-4311, or 521 South Brown Street in Springfield.

Source: City of Springfield

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