Knoxville weighs lower property tax rate after reappraisal

Summary: Knoxville City Council is considering an emergency ordinance to cut the city property tax rate from $2.1556 to $1.3956 per $100 of assessed value. The change follows Tennessee’s certified tax rate process after this year’s countywide reappraisal, with officials warning homeowners may not see large bill reductions. Knox County officials say property values rose about 60% since the last reappraisal.