Assessor of Property PDF Print E-mail

Cara Boone -- Assessor Of Property

Assessor of Property Cara Boone, elected to office in September 2016, after working as Deputy Assessor in Overton County for 23 years.


Hours of Operation: Monday – Friday 8:00 a.m. – 4:30 p.m.


Contact:

317 E University St. Suite 34 Livingston TN 38570
931-823-1651

Fax 931-403-1130
E-Mail:

 

 

 

Property Assesor Office Staff

Left to Right: Jerry Pigg, Mary Looper, Cara Boone, Gary Smith

Good information is one fundamental of good transparent government.  The information in this page has been compiled by the Assessor’s office to give you, the taxpayer, an overview of the Assessor of Property’s Office, how our work affects you, and to detail some of your rights and responsibilities as a property owner in Overton County. The Assessor’s office holds an open door policy to speak with anyone who has questions concerning property in Overton County.

The Assessor of Property is a Tennessee constitutionally elected official who serves at the pleasure of the Overton County citizens for a four-year term of office. It is the Assessor’s responsibility to discover, list, classify, and value all property within the jurisdiction of Overton County for tax purposes.  Making every deed transfer that is recorded and making all map changes to ensure correct property ownership as recorded with the Overton County Register of Deeds.
 
Taxable property is divided into two classes, real property and personal property. Real property includes land and all buildings, structures, and improvements to the land. Personal Property is machinery and equipment, fixtures, furniture, and other items that are movable in nature used by a business.  All businesses with Tennessee are required by State law to file a Personal Property Schedule with the Assessor each March 1.

Discover

To ensure that all property that should legally be on the county assessment roll is properly listed, classified and valued, it must first be located and identified.  This task of discovery is a constant attempt to capture all new construction, additions and demolition of existing improvements, as well as changes to land use and configuration.  To accomplish this, assessment personnel track building permits, completion notices, property sales, zoning changes and a host of other sources for information about property status.  Field inspections of all subdivisions and rural sectors of the county on a regular basis help the Assessor keep records as up-to-date as possible with regard to property changes. State mandated re-appraisal is an ongoing schedule of reviewing 25% of the county every year.       
Discovery of personal property is accomplished through a reporting schedule that businesses are required to file each year by March 1, listing all personal property or updating those schedules already on file.

List

After locating property, assessing personnel must accurately record and list all of that property’s characteristics to properly value the land and all improvements.  All structures and extra features such as decks, garage, barns, pool etc. are measured, and amenities or features that affect the market value of the improvements such as number of bathrooms, interior and exterior trim, floors finish, roofing type, etc. are noted for quantity and quality.

After all data has been collected on a property, the information is compared to all similar properties using a computer assisted mass appraisal  (IMPACT) system that contains the property characteristics of all land and buildings in the county. Rates are set by the state of Tennessee during the reappraisal cycle.

Classify

Along with assigning a value to property, the Assessor also establishes the classification or “use category” for each property, which determines the assessment level that will be used in taxation for that property.  Tennessee law establishes the following assessment levels for different property classes:

  •  25% Residential / Farm
  • 40% Commercial
  • 30% Business Personal Property
  • 0% Exempt
  • 55% Public Utility (both real and personal)

Value

 The laws governing the tax appraisal process in Tennessee are based upon the same principles and procedures that are used throughout the appraisal profession.  There are three basic approaches to the valuation of real property:

The MARKET Approach involves comparison of a property to other properties with similar characteristics that have recently been sold.

The COST Approach involves estimating the replacement cost of a structure, and adjusting that estimate to account for depreciation.

The INCOME Approach is an analysis of a property's value based on its capacity to generate revenue for the owner.

The goal of the Assessor is to estimate fair market value for all property in the county.
Fair market value is defined as how much a property would sell for, in an open market, under normal conditions. To determine market values, the assessor must be familiar with all aspects of the local real estate market, such as: what different types of properties are selling for, local construction and repair costs, normal operating expenses, typical rents, and current financing charges for borrowing money to buy or build property.

Mapping

For the Assessor, maps are a means to inventory all real property within the jurisdiction.  The Assessor is required to maintain an up-to-date set of maps that display all of the parcels in the county, detailing their locations and physical characteristics.  In Overton County, this is accomplished through the use of a CAD-based GIS (Geographic Information System). Master digital maps are updated to reflect new subdivisions, surveys, property splits and the combining of parcels as they occur, and then paper maps are printed and placed in cabinets for reference and public viewing.

Public Assistance

Another important duty of the office is providing public information to assist taxpayers with questions regarding property ownership, assessment, and recent property sales. The Assessor's office handles thousands of requests annually on the phone, through the mail, or in person from current or prospective property owners, as well as from the real estate, legal, and banking communities.

Myths and Legends

Now that you have a better idea of what the Assessor of Property does, here are a few things that the Assessor does not do. Contrary to popular belief, the Assessor:

Does not set the tax rate.

Does not send out tax bills.
 
Does not collect property taxes.
 
Tax rates for Overton County and the city of Livingston within Overton County are set each year by their respective legislative bodies (county commission and city councils) based on the budgets they pass to fund programs and services. The County Trustee is responsible for using that tax rate and the assessment roll from the assessor’s office to create and send out tax bills to all county property owners. The Trustee is also responsible for collecting county property taxes.

In Closing

Equitable assessments assure property owners that they are paying only their fair share of the costs of operating schools and libraries, providing police and fire protection, road construction and maintenance, water, sanitation, and other basic public services.  To this end, the Assessor of Property is responsible to the taxpayers of Overton County to ensure that all property is valued in accordance with state laws, that no property escapes the assessment process or is under assessed, and that no property owner receives unauthorized preferential treatment.


If you have further questions about property valuation, taxes, or the laws that govern them, please contact our office.

We are here to serve you.

Important Facts:

Overton County has in excess of 15,000 parcels as of January 2017.

Greenbelt Property is subject to a roll-back tax once the land ceases to qualify for greenbelt status.  The roll-back tax is the amount of taxes saved in the last three years by the property being on greenbelt. Rollback is the difference in market value and use value of each acre over a 3 year period.
 
The Assessor’s office has no control over your property tax rate, which is established by the Overton County Board of Commissioners, based on their budgets and spending. In fact, the County Commissioners are authorized by State Law to establish a tax rate that will generate the same amount of revenue they had the prior year, even if property appraisals have declined.

The market value appraisal is not and cannot be raised or lowered simply for the purpose of raising or lowering property taxes. By law, appraisal values can only change when (1) the property owner makes changes in the property or (2) during the year of reappraisal (2020). The Tennessee Division of Property Assessments audits appraised values in every county to ensure compliance with the law. County-wide real estate sales transactions are reviewed annually to determine if the market values have changed, thus requiring a change in the market value appraisal. The appraisal represents the value of your property in relation to the real estate market. If you disagree with the market appraisal of your property, you should contact the Property Assessor's Office at 931-823-1651.

What if I don't agree with my property appraisal?

 If you feel that the market value appearing on your assessment change notice is incorrect, you should contact the Property Assessor's office at 931-823-1651. It is the duty of the Property Assessor to determine that your property is appraised correctly. Our objective is to be fair and accurate using available resources and considering those forces which impact property values in your area. Our office does not control property values; they rise and fall with the real estate sales market. After meeting with the assessor and examining the relevant data, you have the right to meet with the Overton County Board of Equalization by making an appointment in June.

How do I prove my case?

In order to obtain a reduction in appraised value before the County Board of Equalization, you must prove that the appraised value of your property exceeded actual market value. Your presentation before the board must be based upon facts and details. One good way to prepare for your hearing is to gather evidence regarding sales of comparison properties, pictures, etc. Information concerning sales can be obtained in the Assessor's office, local realtors, or private appraisers.

Definitions You Should Know:

Assessor: The elected official whose legal responsibility is to discover, appraise and assess all property in the county.

Appraised Value: The total value of all land and improvements on the property.

Assessment: A percentage of the total appraised value. This total is the figure the County Commission uses for tax purposes.

  •  25% Residential
  • 40% Commercial
  • 30% Business Personal Property
  • 55% Public Utility (both real and personal)

Improvements: All buildings, structures, pools, decks, etc. fixed to the land.

Important Dates for Property Owners

January 1st
Property is appraised for tax purposes as to the condition of the land and buildings.
January 1st
 Property is assessed to the person whose name is on the deed as of January 1.
March 1st
 Deadline for filing self-reporting business personal property forms.
March 1st
 Deadline for registering Greenbelt application for current tax year (15 acres or more).

May 15th

                                    

 

Assessment Change Notices are mailed. Only owners that have changed the condition of the property will be notified. All others will remain the same as the tax year before.
(This does not apply to the year of reappraisal which is set for 2020,
when all owners will receive new notices)

Appraisal Value and Assessed Value:

 

Your assessment change notice has two columns. The appraisal value is the market value for your property. Assessment value is a percentage of the market value. (25% residential/farm 30% business personal property and 40% commercial). The assessment value divided by $100.00 and multiplied by the tax rate will give you the amount that should appear on your tax notice from the County Trustee's Office.
June 1st
 Overton County Board of Equalization begins meeting.
Appointments must be made by calling 931-823-1651 and must be made
no later than June 30.

 

Click on the link below to go to the State of Tennessee Real Estate Assessment Data page.

State of Tennessee Real Estate Assessment Data

Important Forms and Documents

Assessor Application for Greenbelt

Assessor Personal Property Schedule

Assessor Residential Farm Sales Questionnaire

Assessor Commercial Industrial Sales Questionnaire