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Reappraisals Worry Wilson County Homeowners

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Thousands across the mid-state have undergone the home reappraisal process, for the first time in years. 

Wilson County was also in the midst of that process. The housing market in that area has been booming, which means property values are on the rise. 

Some estimate property values to be an average of 20 percent higher than the last appraisal, which was in 2011. 

Several residents have taken to social media, concerned that the higher property appraisal may mean more taxes. 

"Just because you received a notice saying your property value has gone up substantially, doesn't necessarily mean you'll be paying more in property taxes next year," John Dunn, spokesman for the Tennessee Comptroller of the Treasury said.

State law forbids counties from receiving more tax revenue after a reappraisal than it did in the year before that appraisal. The Tennessee State Board of Equalization will step in to make sure that law is followed.

"A tax neutral rate is calculated that will essentially lower the tax rate to a point that it would bring in about the same amount of revenue as it did last year," Dunn added.

Counties can decide to increase taxes if they want, but the public will have to be alerted about those intentions. 

If a homeowner disagrees with the reappraisal, they can appeal to the county. If they county overturns the appeal, the homeowner can then take the case to the state. 

Experts recommend doing research before beginning the appeal process. That means finding a recent appraisal of your home and compiling home sale values in your neighborhood. 

"You want to be sure, if you're trying to appeal your property valuation, that you have some sort of evidence that would indicate that the fair market value the assessor has is incorrect," said Dunn.

Davidson County homes will be re-appraised in 2017. Experts project home value prices will increase by close to 30 percent.