East Keswick Civic Association

Property Appraisals

Property Appraisal Info

Excerpts from an Article in the Commercial Appeal dated 2/27/05
Second Appraisal Opinions Available
If county reappraisal seems out of reason, try private assessment
By Mark Watson watson@commercialappeal.com 529-5874

Homeowners who question the accuracy of Shelby County Assessor Rita Clark’s appraisal have several options.
First, homeowner’s can order a new, independent appraisal from any one of the members of the local chapter of the American Institute of Real Estate Appraisers, which may cost $300 or more.
Homeowners can also order a computerized appraisal from Valuation Management Systems (VMS) for $85. (5100 Wheelis Drive, Suite 100; phone 682-7600; www.bluffcityhomes.com)
Another option is to request a 2005 Tax Kit from Chandler Reports for $40. (6060 Poplar, Suite 301; phone 458-6419; www.mychandlerreports.com)
Finally, visit the assessor’s web site (www.assessor.shelby.tn.us) and look at records of sales in your neighborhood. (Shelby County Assessor, 1075 Mullins Station Road; phone 379-7333)
If you investigate with us first, …., and if you are still not happy, then you can go to a tax representative,” Clark said.
Chandler Reports Tax Kit includes a property profile of the customer’s home, detailed information about sales of as many as 20 comparable homes in the area, and a complete assessor’s record.
This information is considered valid in presenting a case for lowering the appraised value, said Jennifer Thompson, Chandler Reports marketing director.
Robert Stephenson of VMS emphasized the fact that his company does not advocate for homeowners. “We can’t promise you your tax rate will change,” he said. “But I will say that for almost every one that we did …. in 2001, the tax assessor changed it to exactly what we said it was.”

Info below is from the Shelby County Assessor’s web site.

When property owners have a concern regarding their appraisal or classification and do not agree with the Assessor's value, they should request an Informal Review.
An Informal Review is not an appeal. It is an opportunity for property owners to share information with the Assessor's Office in order for their property values to reflect fair market value.
There are three ways to initiate an Informal Review :
1. Complete the online form. This is the fastest and most convenient way to initiate an Informal Review.
2. Call the Assessor’s Answer Center at 901-379-7333.
3. Visit one of the Assessor’s two convenient locations.
To assist in the Informal Review, property owners should submit documentation that supports their opinion of the value of the property in question. Examples of such documentation include:
• Sales price of similar properties in the immediate area within the last three years
• Recent private appraisal
• Photos of the property
• Any other information the property owner believes will assist appraisers in analyzing the property's fair market value.

NOTE: Submit your request for an Informal Review before April 28, 2005.