2017 REAPPRAISAL COST PROJECTIONS FOR HAMILTON COUNTY CITIES
Municipality Parcel Count Cost*Chattanooga 75,088 $557,152Walden 1,029 $7,635Collegedale 2,900 $21,518East Ridge 8,410 $62,402Ridgeside 193 $1,432Lookout Mountain 975 $7,234Lakesite 864 $6,410Red Bank 5,054 $37,500Signal Mountain 3,509 $26,036Soddy-Daisy 6,112 $45,351*Cost is based on a calculation of $7.42 per parcel.Source: Hamilton County Assessor of Property
The 10 cities in Hamilton County could be on the hook for a combined $772,674 in unexpected reappraisal costs if the county decides to begin enforcing a 27-year-old state law.
At $557,000, Chattanooga stands to take the largest hit.
County Property Assessor Marty Haynes said he broke the news to the municipalities’ mayors last week. The assessor appraises all properties in the county, including those inside the cities, for tax purposes.
State law says cities should help pay for the quadrennial reappraisals, but Hamilton County’s cities haven’t been charged their share for nearly three decades. The next reappraisal is scheduled for 2017.
