County undergoing Current Value Updates
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The Tennessee Comptroller’s Division of Property Assessments has announced Sequatchie County is undergoing a Current Value Update (CVU) for the tax year 2026, reports County Assessor of Property James Condra.
“The CVU program is designed to make appraisals for property tax purposes more equitable by adjusting the appraised values based on recent sales in the county,” Condra said.
Pursuant to Tennessee Code Annotated 67-5-1601 (a)(2), appraisals are updated in the third year of a six-year reappraisal cycle if the overall level of appraisals drops below 90 percent of market value.
“Appraisers from the Tennessee Comptroller’s Division of Property Assessments have used current market information to establish market trends for the various classes of property in Sequatchie County,” Condra continued. “The updates are derived from an analysis of recently sold properties and reflect market trends for the different property classifications, residential, farm, and commercial/industrial.”
Some of the advantages of the CVU program include property owners being better informed as to the value of their property and the true value at which they are being assessed for property tax purposes, Condra explained. Property owners will also see a more gradual change in their property values over the six-year reappraisal cycle.
“According to state officials, the update program is not a method for raising local revenue,” Condra added. “It is designed to produce appraised values more in line with fair market value, and by itself will not increase the county’s revenue. In fact, Tennessee Code Annotated 67-5-1701 requires that a certified tax rate be established following a CVU of properties in a county.”
The Tennessee State Board of Equalization establishes a certified tax rate. The certified tax rate is a rate that will produce the same amount of revenue as billed for the same taxable properties the year before. A jurisdiction’s local legislative body may exceed the certified tax rate only after a public hearing.
Property owners who experience changes in the property values because of the updates will receive an assessment change notice in the mail in May, Condra said.
“Those who feel that their property’s appraised value is not in line with market value will be given the opportunity to appeal their value to the Sequatchie County Board of Equalization, which begins meeting June 1 of each year. If anyone has more questions or wishes to have it explained in more detail, contact the Sequatchie County Assessor of Property office at 423-949-3534 or by email at [email protected],” he added.
