Knox County Property Appraisal

David and I recently received the Knox County Residential Property Appraisal for our home on Lakemoor. We were shocked as the new appraisal is 27% higher  than the previous one.  Evidently a few others in our neighborhood have also received a shocking appraisal. Could this be from a real estate market that is heating up or is our county seeking to pad their bank account at our expense?

I would be interested in hearing from other residents: happy with appraisal, appraisal is same as last time, or think the increase is too dramatic?

Thank you,

Sharon Gerkin

 

22 Replies to “Knox County Property Appraisal”

    • Debby Corlew

      I appealed in person 4 years ago, & was able to reduce the assessment. The assessors were pleasant; it was not intimidating. I looked up the price & amenities of “sold” properties in the area (& similar areas), & pointed out differences, such as square footage, number of bathrooms, no swimming pool, etc. Photos are helpful. Using the KGIS site that David suggested, you can look up street addresses of houses similar to yours, & compare those appraisals to yours.

      A large number of houses have been sold in the last 4 years, and there has been quite a bit of new construction, so our neighborhood may be considered “hot” these days. Our appraisal went up 45%, & we haven’t undertaken any improvements in 8-10 years. I don’t have time to appeal in person, but plan to submit an informal appeal online. There’s no way our house is worth 45% more than 4 years ago!

  1. Eric Zeanah

    From the comments posted, it appears Elaine and I are the big winners for our homes. 3508 Timberlake, which has not been updated since the 70’s, went up 25% while our property at 3504 Timberlake went up a whopping 110%. We plan to appeal but will need 3rd party appraisals first. We are now regretting the significant effort we have spent over the last 18 months clearing and cleaning our properties as it appears the county wants a cut for our efforts.

  2. Sharon Gerkin Post author

    I think that increases of 64%, 41%, or 25% are incredibly high. It would imply that the appraisals four years ago were too low, just a guess.

    • Vickie Henderson

      I don’t think it implies that former appraisals were too low. I would like to know the formula they use to make these appraisals. The “former” appraisal on my home on Tall Pine was higher than the market value appraisal I received when I bought my home in December of 2015. The new appraisal exceeded the market value appraisal in 2015 by 7%, nothing like the percentages others are describing but, nonetheless, a large value increase for just one year.

  3. Sheri Marsh

    Ours was up about 20% also but the former amount matched what the real estate appraiser figured when we refinanced about 3 years ago. Can’t imagine how we went up 20% when we haven’t done much of anything to the house or yard.

  4. Dawn Thomas

    My county appraisal is just over 3% higher than last time. Odd that others have seen such dramatic increases. Sounds like an LHHA initiative would be valuable, esp to those seeing large increases.

  5. Hansjoerg Goeritz

    Thank you, Sharon, for sharing this.

    Ours came in 10% higher. We do not see any correspondence
    to a real market value either and wish it would be worth it, however
    I hear it is never even the full market value. It has not been made transparent
    as to which criteria this ‘appraisal’ has been based upon.

    There is an appeals procedure. Depending on how many homeowners
    face issues it might be worth looking into a concerted LHHA activity.

    Hansjoerg Goeritz

    • Kathy Proctor

      Many of you may remember Craig Leuthold (Knox County Property Assessor’s Office) who came to speak at our homeowners meeting previously. He told us that this assessment review was scheduled to occur. This is what was recorded in our minutes: “The Office is a constitutional office for the State with a goal of providing a fair and accurate appraisal of personal and real property. On a four year cycle, the next mass appraisal of properties is scheduled for 2017 through a statistically-driven process that includes a visual inspection of every piece of property across the county. At that time, a new tax rate will be established that is intended to generate the same level of revenue level as the year before. The last tax increase was made in 1999. The assigned property value can be appealed. Steps in an appeal can include an informal discussion with Assessor, County Board of Equalization (meets beginning June 1), State Board of Equalization (must first appeal to county board), and finally Chancery Court.” He mentioned that the next review might be done by aerial photos rather than drive by inspections. The steps to appeal the decision that the appraiser made is listed on the yellow assessment sheet that you just received. Craig did mention that there may be an option for those on a fixed income to appeal based on that fact. It is an individual process and, in my opinion, would not be appropriate for the HOA to become involved except to be an avenue to share information.

  6. Jim Cathey

    We received ours and our reappraisal is 34% higher after just 4 years. We are equally shocked and not sure how to proceed, but we’re sure this is refutable.

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