Home value soars; will my quality of life?
My home, like everyone else’s, was reappraised last March. Mine went up 116.7%, more than double. I guess that’s good if I want to sell my house or get a reverse mortgage. I’ve talked with several neighbors and friends, and theirs went up similar amounts. I wonder who the property owners are that went up much less to make the average 70%.
With the state-mandated millage rate of $1.55 per $100 of valuation, my city taxes will increase by 49.3%. The $1.99 rate which Tim Mayor Kelly is proposing will increase my taxes by 91.7%. This increase, along with the increase in county taxes, will cost me about $1,500 more.
Mayor Kelly has said that this increase is needed to maintain and improve the quality of life for Chattanoogans. With $1,500 less disposable income, how does he think my quality of life will improve?
Alan Herweyer