Nashville property values increasing at ‘historic’ clip
NASHVILLE, Tenn. (AP) – A Davidson County property assessor says he’s expecting to see a “historic” rise in property values during Metro Nashville’s next reappraisal.
According to The Tennessean (http://tnne.ws/21cmxJA ), George Rooker Jr. told a newly created Metro Council Ad Hoc Affordable Housing Committee last week that he’s estimating an average increase in residential property values of between 33 and 37 percent during the upcoming 2017 reappraisal.
The city’s last appraisal in 2013 was a 5.3 percent increase over 2009.
Rooker’s projection would mark Nashville’s single-largest spike in property values since the state of Tennessee in 1989 started requiring municipalities to reassess the value of properties every four years. The current record for Nashville is 33 percent from 1993 to 1997.
Properties are appraised by taking into account property sales on a neighborhood-to-neighborhood basis.
