Washington County Property Owners Angry Over New Appraisals
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Washington County Property Owners Angry Over New...
Washington County Property Owners Angry Over New Appraisals
Nate Morabito/News Channel 11 Connects
Melinda and Tim Riner look at their new property appraisal.
New Washington County, Tennessee, property appraisals arrived in taxpayers’ mailboxes Monday and many are not happy with the news. Among those people, Melinda and Tim Riner, who love their house in Fall Branch, but are also realistic.
“The 24 by 24 farmhouse, it’s not going to sell for $72,000 in this market,“ Tim Riner said.
Washington County assessors think the house is worth that much. The appraisal mailed to the Riner’s this week lists the property’s value at nearly $73,000; a far cry from 2004’s appraisal.
“It took 21 years for it to go from $20,000 to $44,000,“ Melinda Riner said. “Within one year, the appraisal went from $44,000 to $73,000.“
Of the 57,000 appraisals received this week in Washington County, the vast majority included similar jumps in value. In fact, according to Washington County Property Assessor Monty Treadway, on average, property values increased by somewhere around 30% across the board.
“This is what the state says we have to do every five years and we don’t like it any more than the people do,“ Treadway said.
Treadway could easily be the least popular man in the county right now, but he says the increases in home values since the last appraisal are justified.
“With the economic times that we’ve had, a lot of people say property values have gone down, but this is over the last five years, not over the last one,“ Treadway said. “From 2003 to 2007, property values increased by a big margin.“
Despite the high property values, Treadway says 60% of property owners won’t see a change when it comes to their taxes.
“It don’t actually mean a tax increase, because the tax rate will come down,“ Treadway said.
This summer, the state will lower the county’s tax rate to offset the increase in appraisal values. That means there’s a chance some people will pay the same in taxes. County Mayor George Jaynes says the only people who will likely pay more in taxes are those whose values increased by “more” than 30%. He says those with increases “under” 30%, could pay less in taxes this year.
Still, if people are not happy with their appraisals, Treadway urges property owners to call or visit his office in Jonesborough. Those with disputes may be able to present their case to the County Board of Equalization this Summer.
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Reader Reactions
Lack of law enfoccement by the SEC and the FDIC made all this possible.
Loans on property that did not exist, 2 and 3 loans on the same property, and loans for high dollar homes on vacant lots were all made possilbe because no one was watching the store.
No Over Sight!
To get to thepoint the fraud in Fla had NOTHING TO DO WITH BUSH .It was realtors with apprasiers cooking the books on the value of property. Property worth 30k ,appraised for 130K , loan ok’d, party which recieved the load defaults, can’t be found. Realtors, appraisers and the recievers of the bogus loans make a killing. Tell me how that has anything to do with BUSH.
My sister is a real estate agent in Fort Myers. She has told me all about loan companys down there. She and I made many calls to the Sec and the Congressional Bank Committee since 2002 when Country Wide moved in there.
It made no difference. Even Elliot Spitzer in New York as Governor could not stop the Predatory Lenders. The Bush Adminstration took many states to court to prevent them from using consumer protection laws. After Spitzer’s letter to the Washington Post about the Pedatory Lenders he was exposed for seeing other women. Pay back from Bush.
dadw5boys
please look into the massive fraud that has taken place in Florida. I think after you see whats gone on the thought of the state sinking just doesn’t hold water.
Nothing Jeff it has to do with the price. If the home might be under water in 15 years a 30 year loan might not be a good idea.
The Countys and Cities are lieing about the number of forclosures in this area.
They don’t want you to know how many so you will not demand they lower taxes.
New to Area, Ignor me. I set here trainding stocks all day and posting to these storys is but a distraction to me. It helps me concentrate and not make mistakes that could cost me a lot trading on impluse or passion. So I burn off passion posting here by throwing snow balls at storys or people.
They are only snow balls ignor them.
What does the bogus GLOBAL WARMING sea level raising have to do with fraud? Does that mean we don’t need to go after the crooks? Just wondering.
Dadw5boys, my teacher pension and healthcare are paid for by my investments over thirty years and more. Had the money I invested for my retirement been put into the stock market, it would be worth over 750K now, so my moving here is adding dollars to the Tennessee economy, not taking any out. I’ve known many wonderful Yankees, too, but I just so happen to not be one.
Jeff many of the homes in Fla could be under water within the next 10 years if the sea levels keep rising.
Alaskan Villages 600 years old have had to move because of rising sea levels.
At a time when property values are droping faster than a stripers skirt, we get what from the palace of government! Part of our problem can be traced to bogus values to start with. One story thats not gotten much notice is the realestate fraud that has taken place in Florida. Realtors, bankers appraisers had a field day taking Freddy and Fanny to the cleaners. Could it be we might have that problem here because there is property that sold for 300K ten years ago and it won’t sell for the same amount now? I wonder?
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