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VOL. 37 | NO. 17 | Friday, April 26, 2013
Robertson County expects little change in property values
The total value of property in Robertson County will barely change as a result of this year’s reappraisal, says Chris Traughber, assessor of property.
“When the dust settles, we’ll be lower by one-half of one percent,” he predicts.
That doesn’t mean individual home owners won’t notice a change in their property’s value. The county is recovering from the effects of the recession and the housing downturn, but the values of many homes have fallen.
A typical 1,500-square-foot house is probably worth $10,000 to $12,000 less than before the downturn, he explains.
As unwelcome as that news is for many home owners, it does contain a glimmer of hope that property values have stopped declining and are now recovering.
If the reappraisal had taken place last year, Traughber says, values would have been down 6 or 7 percent more.
Put another way, home values increased about 7 percent in the last 12 months.
“Things have started rebounding,” he says.
Farmers are snapping up land and putting it into agricultural production. As a result, the value of raw land is up by 8 percent.
The county planned to begin mailing assessment notices beginning April 26. The assessor’s office appraised 36,884 properties.
In Cheatham County, the assessor’s office plans to mail reappraisal notices beginning May 10. Until then, mum’s the word.
Property Assessor Betty Balthrop says her staff will be compiling information until the last minute. She declined to speculate whether property values have declined or increased.
“We’re changing every day,” she says.
Balthrop says Cheatham County is experiencing construction of more higher-priced homes than in the past. The county, which is bordered by I-40 and I-24, is attractive to residents who commute to Nashville.
“If I need something from Nashville, I can be there in 15 minutes,” she adds.