Coming home and buying property in Te...

Coming home and buying property in Tennessee questions

Posted in the Nashville Forum

Homesick

United States

#1 Aug 6, 2017
How are property taxes these days?
It is hard to say how appraisals go when quite a few sellers are asking much more than appraised values and many properties sell for much less, especially at auction.
Any insight to how property taxes work these days?
Years ago it was pretty fair across the board and a property was generally worth 3 times its tax appraised value.
Homesick

United States

#3 Aug 9, 2017
Anyone else?

After working with a few real estate agents and coming to understand the implication that property tax appraisals are a lot more fairer for some than others, which was an explanation given for some of the disparities between the appraisal amounts and asking prices, I'm a bit hesitant.

I even looked at some foreclosures where the appraised amount was more than triple the asking price which had me wondering if the system is abused for whatever reasons.

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