Metro Nashville and Davidson County Property Assessor Vivian M. Wilhoite announced residents whose properties were impacted by the December 9 severe storms may be eligible to seek property appraisal adjustments.
On December 9, severe thunderstorms and tornadoes ripped through Middle Tennessee, causing six fatalities – three in Montgomery County and three in Davidson County – and dozens of injuries. The National Weather Service has confirmed eight tornadoes resulted in the damage.
The storms produced significant damage to nearly 1,900 homes and destroyed over 500 homes, according to initial reports.
“For tornado victims who suffered “substantial damage” to buildings and improvements, including residential, commercial, and industrial buildings, State law, Tenn. Code Ann. 67-5-603, provides that the Office of the Assessor of Property will assess the value of such property based upon its condition after the tornado. Such assessment value will be as of January 1, 2024. This reduced value will remain on the property until after all repairs have been made to the damaged building(s),” Wilhoite’s office said in a statement.
While a decrease in a property’s assessed value does not necessarily affect its actual market value, it helps lower owners’ property tax bills.
Davidson County property owners who have substantial damages to their residential or commercial buildings are urged to contact Wilhoite’s office to report the damages.
Properties that are damaged will undergo a field review by the assessor’s office, which will then develop a January 1, 2024 value based on the damages.
Property owners will see a relief on their 2024 property tax bills mailed by the assessor’s office in October.
“Under existing State law, those in need should be fully informed of property appraisal procedures where appropriate as a result of such losses,” Wilhoite’s office added. “Assessor of Property Wilhoite and staff send their continuous prayers to the families who’ve lost loved ones, and to those affected by this unexpected occurrence.”
Davidson County property owners seeking relief come at a time when homeowners across the nation are struggling to keep up with their mortgages.
The mortgage delinquency rate on residential properties rose in the third quarter of this year, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.
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Kaitlin Housler is a reporter at The Tennessee Star and The Star News Network. Follow Kaitlin on X / Twitter.
Photo “Tennessee Tornado Damage” by American Red Cross of Tennessee.
