County assessor outlines reappraisal progress and historic property tax abatement program as values hit about $21 billion

Rob Mitchell, Rutherford County's property assessor, told the commission on May 14 that the county has submitted preliminary reappraisal values to the state and is awaiting revenue-neutral-rate verification.

"We are at about $21,000,000,000 in assessed value," Mitchell said, contrasting that with roughly $16,000,000,000 in 2022 and arguing the shorter, four-year reappraisal cycle helps keep values accurate in a rapidly growing county.

Mitchell described the county's historic property tax abatement program: if a structure qualifies and the owner presents an approved restoration plan to the historic property tax abatement board, the structure's appraised value can be frozen for a minimum of 10 years and a maximum of 15 years while the owner follows the agreed plan. He said the abatement travels with the property rather than the owner, and that the county is the only one in the state offering the program currently.

Mitchell said staff are available to answer property owners' questions about reappraisal, exemptions and the abatement program and noted the assessor's office manages roughly 146,000 accounts and over 130,000 real property parcels in the county.