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Article by The Tennessee Conservative News Staff –
Despite an increase in property values after a recent countywide reappraisal, Knoxville residents may see some relief from the anticipated increase in their upcoming property tax bills.
The Knoxville City Council passed an emergency ordinance on Tuesday, lowering their certified tax rate from $2.1556 per $100 of assessed value to just $1.3956. The emergency ordinance, which was approved with only one required reading, would be in effect for the tax period from July 1, 2026 to June 30, 2027.
According to Jim Weaver, chief deputy for the Knox County Property Assessor’s Office, certified tax rates must be calculated after a reappraisal. Knox County recently underwent their 2026 reappraisal cycle.
Residents saw property values increase by about 60% over the previous appraisals in 2022.
The agreed upon lowered tax rate does not automatically guarantee that every resident will see their property tax bill decrease. That will depend on how much the home’s value increased over the last four years.
“Bottom line is if your value did not increase more than 60%, then you probably are looking at no difference in your taxes,” Weaver stated. “If your value went up more than 60%, you would be looking at a small increase.”
Weaver went on to explain that the $1.3956 tax rate is considered “revenue neutral,” meaning it is expected to generate roughly the same amount of revenue from property taxes as the previous rate did prior to the reappraisal.
Knoxville homeowners can visit the Property Assessor’s website to determine the updated value of their property and then use the newly adopted rate to estimate what they can expect to owe in taxes.
Property taxes must be paid by the end of February. Residents owning homes within Knoxville city limits can receive a 1% discount if taxes are paid in full by October 31.
Sources:
WATE.
WVLT.
WATE.
