assessors office - what does the assessor of …

1 For more information:..about your property appraisal orassessment, contact:Cumberland CountyAssessor of Property2 South Main StreetSuite 101 Crossville, TN 38555(931) 484-5745..about your county propertytaxes, contact:Cumberland County Trustee2 South Main StreetSuite 111 Crossville, TN 38555(931) 484-5730..about your city property taxes,contact:Crossville City Hall99 Municipal AvenueCrossville, TN 38555(931) 484-5113 Cumberland CountyAssessor of PropertyTennessee CodeAnnotated67-1-502. Election of assessor - assessor of property shall be elected by thequalified voters of each county and shall hold officefor a term of four (4) years and until the assessor ssuccessor is elected and Deputy assessors and secretaries.(a) (1) In order to assure that each county assessor ofproperty shall have a minimum staff to assist thecounty assessor in carrying out the duties andresponsibilities required by law, the assessor isauthorized to appoint at least one (1) deputy assessorfor each four thousand five hundred (4,500) parcels ofproperty, as determined by the division of propertyassessments, over and above the first four thousandfive hundred (4,500) parcels of property within theassessor s taxing jurisdiction.

2 (2) Each deputy assessor shall have the same power,duties and liability of the assessor of property withrespect to the appraisal, classification, andassessment of January: Date of AssessmentTCA 67-5-50420 May: assessor lists all property and notifiesproperty owners of any changes in 67-5-504 & TCA 67-5-5081 June: County Board of Equalization meets forapproximately two weeks to consider appealsand certify 67-1-404 & TCA 67-5-1410 July: County Commission and City Council settheir respective tax 67-5-510In October: Taxes become due and 67-1-701 Important DatesInformation about the major duties andresponsibilities of Cumberland County sAssessor of Property OfficeWhat does theAssessor ofProperty s office Do? Tax Roll and AppealsEach year, the assessor is required to create andmaintain an assessment roll detailing all county property, itsowner, and its value.

3 This roll, with preliminary, or tentative,assessments, is made available for public inspection in owners whose property has changed in value arenotified by mail of those changes, and are given anopportunity to appeal any values they feel are inconsistentwith the fair market value of their property. The CountyBoard of Equalization, after hearing owners appeals andordering any changes they feel are warranted, makes theassessment roll final for the year. The assessor of Propertythen turns the roll over to local taxing authorities. Public AssistanceAnother important duty of the office is providing publicinformation to assist taxpayers with questions regardingproperty ownership, assessment, and recent property assessor s office handles thousands of requestsannually on the phone, through the mail, or in person fromcurrent or prospective property owners, as well as from thereal estate, legal, and banking communities.

4 Myths and LegendsNow that you have a better idea of what the assessor ofProperty does , here are a few things that the assessor doesnot do. Contrary to popular belief, the assessor : does not set the tax rate. does not send out tax bills. does not collect property rates for Cumberland County and the City ofCrossville are set each year by their respective legislativebodies (county commission and city councils) based on thebudgets they pass to fund programs and services. TheCounty Trustee is responsible for using that tax rate and theassessment roll from the assessor s office to create andsend out tax bills to all county property owners. The Trusteeis also responsible for collecting county property taxes. In ClosingEquitable assessments assure property owners that theyare paying only their fair share of the costs of operatingschools and libraries, providing police and fire protection,road construction and maintenance, water, sanitation, andother basic public services.

5 To this end, the assessor ofProperty is responsible to the taxpayers of CumberlandCounty to ensure that all property is valued in accordancewith state laws, that no property escapes the assessmentprocess or is underassessed, and that no property ownerreceives unauthorized preferential you have further questions about property valuation,taxes, or the laws that govern them, please contact are here to serve you. PurposeGood information is one fundamental of good information in this brochure has been compiled to giveyou, the taxpayer, an overview of the assessor of Property sOffice, how our work affects you, and to detail some of yourrights and responsibilities as a property owner inCumberland County. GeneralThe Cumberland County assessor of Property is aTennessee constitutionally elected official who serves at thepleasure of the Cumberland County citizens for a four-yearterm of office .

6 It is his responsibility to discover, list, classify,and value all property within the jurisdiction of CumberlandCounty for tax purposes. Taxable property is divided into twoclasses, real property and personal property. Real propertyincludes land and all buildings, structures, and improvementsto the land. Personal property is machinery and equipment,fixtures, furniture, and other items that are movable in natureused by a assessor s job is multifaceted and involves theperformance of the following major functions: DiscoverTo ensure that all property that should legally be on thecounty assessment roll is property listed, classified andvalued, it must first be located and identified. This task ofdiscovery is a constant attempt to capture all newconstruction, additions and demolition of existingimprovements, as well as changes to land use andconfiguration.

7 To accomplish this, assessment personneltrack building permits, property sales, and a host of othersources for information about property status. Fieldinspections of all subdivisions and rural sectors of the countyon a regular basis help the assessor keep records as up-to-date as possible with regard to property of personal property is accomplished through areporting schedule that businesses are required to file eachyear by 1 March, listing all personal property or updatingthose schedules already on file. ListAfter locating property, assessing personnel mustaccurately record and list all of that property s characteristicsto property value the land and all improvements. Allstructures and extra features are measured, and amenitiesor features that affect the market value of the improvementssuch as bathrooms, interior and exterior trim, floors finish,roofing type, etc.

8 Are noted for quantity and all data has been collected on a property, theinformation is compared to all similar properties using acomputer assisted mass appraisal (CAMA) system thatcontains the property characteristics of all land and buildingsin the county. ClassifyAlong with assigning a value to property, the Assessoralso establishes the classification or use category for eachproperty, which determines the assessment level that will beused in taxation for that property. Tennessee law establishesthe following assessment levels for different propertyclasses:Residential - 25%Commercial and Industrial - 40%Farm - 25%Exempt - 0%Public Utility - 55% (both real and personal)Personal Property - 30% ValueThe laws governing the tax appraisal process inTennessee are based upon the same principles andprocedures that are used throughout the appraisalprofession.

9 There are three basic approaches to thevaluation of real property:The MARKET Approach involves comparison of aproperty to other properties with similar characteristics thathave recently been COST Approach involves estimating the replacementcost of a structure, and adjusting that estimate to account INCOME Approach is an analysis of a property svalue based on its capacity to generate revenue for goal of the assessor is to estimate fair market valuefor all property in the county. Fair market value is defined ashow much a property would sell for, in an open market,under normal conditions. To determine market values, theassessor must be familiar with all aspects of the local realestate market, such as: what different types of properties areselling for, local construction and repair costs, normaloperating expenses, typical rents, and current financingcharges for borrowing money to buy or build property.

10 MappingFor the assessor , maps are a means to inventory all realproperty within the jurisdiction. The assessor is required tomaintain an up-to-date set of maps that display all of theparcels in the county, detailing their locations and physicalcharacteristics. In Cumberland County, this is accomplishedthrough the use of a ESRI-based GIS (GeographicInformation System). Master digital maps are updated toreflect new subdivisions, surveys, property splits and thecombining of parcels as they occur, and then paper mapsare printed and placed in cabinets for reference and publicviewing. ReappraisalReappraisal of property for tax purposes is required on aperiodic basis to maintain appraisals at market value and toensure equity of appraisals throughout the jurisdiction. Everycounty in Tennessee is on either a four, five, or six yearcycle of reappraisal.