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Roane County approves 4‑year reappraisal plan, opts into indexing to curb revenue losses
Summary
After extended discussion and expert testimony, the Roane County Commission voted to adopt a 4‑year property reappraisal cycle with indexing in year two to reduce equalization-ratio losses that previously reduced assessed value and county revenue.
Roane County commissioners on March 9 approved a plan to keep a 4‑year property reappraisal cycle and incorporate an indexing adjustment in the second year to narrow the discrepancy between assessed values and current market values.
The measure — presented by Roane County Assessor Molly and property-assessment consultant Dave Williams of the County Technical Assistance Service (CTAS) — seeks to eliminate the “equalization” ratio that has reduced the county’s assessed value on certain commercial and utility properties and, the presenters said, cost the county close to $979,000 in tax revenue over the previous reappraisal cycle.
Molly told the commission that recent state changes allow an assessor to adopt more frequent reappraisals “with or without indexing,” and she urged the panel to adopt indexing in year two so the county does not again experience large, irregular equalization reductions. “This will…
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