Hamilton County officials discuss impact of property assessment increases on taxes

Property tax assessments took center stage at the Hamilton County Commission Committee meeting on June 11, 2025, as officials discussed the significant rise in property values and its implications for local residents. Assessor Haynes revealed that the assessed value of Hamilton County has nearly doubled over the past eight years, soaring from approximately $9.76 billion in 2017 to nearly $19.77 billion in 2025.

This dramatic increase has raised concerns about the impact on property taxes, particularly for vulnerable populations. Haynes noted that while the median increase in property values was around 57%, individual experiences vary widely. For instance, a homeowner whose property value jumped from $100,000 to $165,000 could see their taxes rise by about $220, a manageable amount for some but a significant burden for others, especially those on fixed incomes.

Commissioner Graham inquired about the "breakeven" point for homeowners facing steep increases, emphasizing the need for clarity on how tax rates adjust in response to rising property values. Haynes explained that the county's tax rate is calculated based on last year's revenue and this year's total property value, resulting in a decrease in the millage rate to comply with state law.

The meeting also highlighted the growing demand for basic necessities among students in the community, linking it to the financial strain that property tax increases may impose on families. Commissioner Shipley pointed out that the county sees about 1,300 to 1,500 new homes built each year, further complicating the landscape of property assessments.

As the county prepares for the next reappraisal cycle in 2029, officials acknowledged the need for improved communication with residents regarding property assessments and tax implications. The Assessor's office has received a high volume of inquiries, and while many residents expressed confusion, there were also commendations for the office's responsiveness.

The discussions underscored the delicate balance between rising property values and the financial realities faced by residents, particularly those in lower-income brackets. As Hamilton County navigates these challenges, the focus remains on ensuring that all residents understand the implications of property assessments and the support available to them.