Reappraisals keep our property tax system fair. It’s that simple. The State of Tennessee requires All County Assessor's of Property to conduct mass reappraisals every four to six years; Madison County is on a four (4) year reappraisal schedule.
The next reappraisal for Madison County will be 2018.
Reappraisals allow the Assessor to adjust property values so that every property in Madison County is appraised at 100% fair market value. January 1 of each Reappraisal year is the only day property is appraised at 100% of fair Market Value.
Reappraisal eliminates inequities that are created over time by changes in the real estate market, ensuring fairness and equity for all property owners. Over time, a property’s fair market value can increase or decrease. If the Assessor’s record of a property’s fair market value does not change some people could pay too much in property taxes, while others could pay too little.
The 2018 Reappraisal values will be based on qualified sales that occurred from 2015, 2016 and 2017; with the greatest weight being given to sales in 2017 because all properties are valued to reflect market conditions as of January 1, 2018.
For more information, please contact the Assessor's Office at (731) 423-6063.