Moore County experiences first ever mid-term property tax assessment

LOCAL NEWS — Property owners across Moore County opened their mailboxes earlier this month to an unexpected and unwelcome surprise – an increased property tax assessment from the Moore County Property Assessor. Property Tax Assessor Darin Harrison mailed out assessment change notification cards to many Moore County property owners on Friday, May 7.

Moore County is one of a handful of Tennesee counties that still exists on a six year re-appraisal cycle. Moore County’s last re-appraisal happened in 2018 and its next re-appraisal is schedule for 2024. However, in 2021, the Division of Property Assessors (DPA) is requiring a CVU (Current Value Update) for Moore County due to the fact that the county’s sales ratio fell below the required 90 percent in the third year of the reappraisal cycle. According to the state comptroller’s site, “only one county, Moore, was scheduled for a CVU in 2021. Moore had an overall median ratio of less than ninety percent and required updating to current market value.” 

This is the first time Moore County has ever experienced a mid-term assessment.

In the May 24 Metro Council meeting, Mayor Bonnie Lewis addressed the mid-term assessment as part of a prepared statement on issues affecting the fiscal 2021-22 budget. In them, she stated that Metro Moore County is one of just 16 Tennessee counties who remain on a six-year re-assessment cycle.

“Because of that, the comptroller’s office automatically looks at the sales ratio at the half-way point … to see if property values and local sales are out of line,” she explained. “They want there to be at least a 90 percent ratio. Meaning, they want to make sure our properties are not undervalued according to [current market value]. They found our ratio to be 88 percent and therefore ordered a reassessment of all homes in the county. This assessment did not affect land or commercial properties, just homes.” 

DPA officials say they execute a CVU to “soften the blow” so that local property owner don’t experience a major increase in the year six assessment. 

“At the end of the county-wide assessment, the state then determines what your new tax rate should be according to the new increased values of the homes. As a county, we went through a reassessment and new certified tax rate in 2018, now in 2021 and we will go through another in 2024,” Mayor Lewis continued.

Any Moore County property owner who disagrees with the re-assessment may appeal to County Board of Equalization when they begin meeting on June 1. Citizens can also contact the Moore County Property Assessor’s office at 931-759-7044. Their offices are located inside the Moore County Courthouse. •

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