The City of Alcoa is also proposing a 6.5% property tax rate increase. The Blount County proposed property tax increase to $2.62 from $2.117, 23.8% increase, is quite large as compared to the City of Alcoa proposed tax increase to $1.96 from $1.84, 6.5% increase.

The Blount County Commission and City of Alcoa Commission can increase property tax rates without a vote by the citizens.

Even with no overall tax increase for the city or county, it is possible that some property owners could pay more taxes if their property values increased enough and other property owners could pay less taxes if their property values decreased enough.

Who will be most affected by the proposed property tax increases? Whose property values were increased or decreased, thus affecting property tax due? How much new construction was added to the property tax rolls? Will the lower value property owners be more affected? $98 a year does not sound like a lot but it can be a lot to many people on fixed incomes or with lower incomes. Property owners 65 years old and older with an income under the specified amount can apply for the property tax freeze program. Property owners must apply for the tax freeze every year.


continued...

For tax purposes, property values were reassessed for 2015. Your assessed property value could have gone up or down. Currently, property values are reassessed every five years.

When property values are reassessed, the State of Tennessee changes the "certified" tax rate for the city or county to reflect no overall tax increase. Overall meaning to include all properties in the city or county, where some property owners taxes may go down and some may go up, but the total revenue for the city or county from property taxes will be the same for 2015 as it was for 2014.

The Blount County 2014 certified tax rate is $2.15 (per $100 for assessed property value).
The Blount County 2015 certified tax rate is $2.117 (per $100 for assessed property value).
The Blount County Budget Committee is recommending the 2015 tax rate be increased to $2.62 (per $100 for assessed property value).

The City of Alcoa 2014 certified tax rate is $1.96 (per $100 for assessed property value).
The City of Alcoa 2015 certified tax rate is $1.84 (per $100 for assessed property value).
The City of Alcoa City Manager is recommending to the Board of Commissioners that the 2015 tax rate be increased to $1.96 (per $100 for assessed property value).

Examples:

***********************************************
Blount County 2014 Certified Property Tax Rate (Current taxes paid for year 2014)
------------------------

2014 Appraised Value = $100,000
2014 25% Assessment = $25,000
2014 Blount County Tax Rate = 2.15
2014 Blount County Tax = $537.50
(($25,000/100) * 2.15)
***********************************************

------------------------
Blount County 2015 Certified Property Tax Rate
------------------------

If your 2015 property value increased 10%:
2015 Appraised Value = $110,000
2015 25% Assessment = $27,500
2015 Blount County Tax Rate = 2.117
2014 Blount County Tax = $582.18
(($27,500/100) * 2.117)

In the above example, there is no property tax increase but the property owner's property tax increased by $44.68. An 8.3 % property tax increase.

If your 2015 property value decreased 10%:
2015 Appraised Value = $90,000
2015 25% Assessment = $22,500
2015 Blount County Tax Rate = 2.117
2014 Blount County Tax = $476.33
(($22,500/100) * 2.117)

In the above example, there is no property tax increase and the property owner's property tax decreased by $44.68. An 11.4 % property tax decrease.

------------------------
Blount County Commission 2015 Proposed Property Tax Rate Increase
------------------------

If your 2015 property value increased 10%:
2015 Appraised Value = $110,000
2015 25% Assessment = $27,500
2015 Blount County Tax Rate = 2.62
2014 Blount County Tax = $720.50
(($27,500/100) * 2.62)

In the above example, with the proposed property tax increase, the property owner's property tax increased by $183.00. A 34 % property tax increase.

If your 2015 property value decreased 10%:
2015 Appraised Value = $90,000
2015 25% Assessment = $22,500
2015 Blount County Tax Rate = 2.62
2014 Blount County Tax = $589.50
(($22,500/100) * 2.62)

In the above example, with the proposed property tax increase, the property owner's property tax increased by $52.00. A 9.7 % property tax increase.

***********************************************
City of Alcoa 2014 Certified Property Tax Rate (Current taxes paid for year 2014)
------------------------

2014 Appraised Value = $100,000
2014 25% Assessment = $25,000
2014 City of Alcoa Tax Rate = 1.96
2014 City of Alcoa Tax = $490.00
(($25,000/100) * 1.96)
***********************************************

------------------------
City of Alcoa 2015 Certified Property Tax Rate
------------------------

If your 2015 property value increased 10%:
2015 Appraised Value = $110,000
2015 25% Assessment = $27,500
2015 City of Alcoa Tax Rate = 1.84
2014 City of Alcoa Tax = $506.00
(($27,500/100) * 1.84)

In the above example, there is no property tax increase but the property owner's property tax increased by $16.00. A 3.3 % property tax increase.

If your 2015 property value decreased 10%:
2015 Appraised Value = $90,000
2015 25% Assessment = $22,500
2015 City of Alcoa Tax Rate = 1.84
2014 City of Alcoa Tax = $414.00
(($22,500/100) * 1.84)

In the above example, there is no property tax increase and the property owner's property tax decreased by $76.00. A 15.5 % property tax decrease.

------------------------
City of Alcoa Commission 2015 Proposed Property Tax Rate Increase
------------------------

If your 2015 property value increased 10%:
2015 Appraised Value = $110,000
2015 25% Assessment = $27,500
2015 City of Alcoa Tax Rate = 1.96
2014 City of Alcoa Tax = $539.00
(($27,500/100) * 1.96)

In this example, with the proposed property tax increase, the property owner's property tax increased by $49.00. A 10 % property tax increase.

If your 2015 property value decreased 10%:
2015 Appraised Value = $90,000
2015 25% Assessment = $22,500
2015 City of Alcoa Tax Rate = 1.96
2014 City of Alcoa Tax = $441.00
(($22,500/100) * 1.96)

In this example, with the proposed property tax increase, the property owner's property tax decreased by $49.00. A 10.0 % property tax decrease.

***********************************************
Combined Blount County and City of Alcoa 2014 Certified Property Tax Rates (Current taxes paid for year 2014)
------------------------

2014 Appraised Value = $100,000
2014 25% Assessment = $25,000
2014 City of Alcoa Tax Rate = 4.11
2014 City of Alcoa Tax = $1,027.50
(($25,000/100) * 4.11)
***********************************************

------------------------
Combined Blount County and City of Alcoa 2015 Certified Property Tax Rates
------------------------

If your 2015 property value increased 10%:
2015 Appraised Value = $110,000
2015 25% Assessment = $27,500
2015 Blount & Alcoa Tax Rate = 3.957
2014 Blount & Alcoa Tax = $1,088.18
(($27,500/100) * 3.957)

In the above example, there is no property tax increase but the property owner's property tax increased by $60.68. A 5.9 % property tax increase.

If your 2015 property value decreased 10%:
2015 Appraised Value = $90,000
2015 25% Assessment = $22,500
2015 Blount & Alcoa Tax Rate = 3.957
2014 Blount & Alcoa Tax = $890.33
(($22,500/100) * 3.957)

In the above example, there is no property tax increase and the property owner's property tax decreased by $137.18. A 13.4 % property tax decrease.

------------------------
Combined Blount County and City of Alcoa Commission 2015 Proposed Property Tax Rate Increases
------------------------

If your 2015 property value increased 10%:
2015 Appraised Value = $110,000
2015 25% Assessment = $27,500
2015 Blount & Alcoa Tax Rate = 4.58
2014 Blount & Alcoa Tax = $1,259.50
(($27,500/100) * 4.58)

In this example, with the proposed property tax increase, the property owner's property tax increased by $232.00. A 22.6 % property tax increase.

If your 2015 property value decreased 10%:
2015 Appraised Value = $90,000
2015 25% Assessment = $22,500
2015 Blount & Alcoa Tax Rate = 4.58
2014 Blount & Alcoa Tax = $1,030.50
(($22,500/100) * 4.58)

In this example, with the proposed property tax increase, the property owner's property tax increased by $3.00. A 0.3 % property tax increase.

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