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Land values look to drop

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‘Definitely a decline’ as reappraisals loom in ’15

By Damon Lawrence

The next property reappraisal for Roane County is 2015.
Values could decrease at that time, according to what officials said earlier this month.  
“Roane County will probably go down,” said T.H. Brown, chairman of the Roane County Board of Equalization.
“From what we are seeing, there’s definitely a decline in most areas as far as real world qualified sales compared to what we have as values in the assessor’s office,” Property Assessor David Morgan said.
“We’re still basing our values on 2010 reappraised values, which I, as the assessor, feel are high to begin with, but there’s not a whole lot I can do to change those until the 2015 reappraisal,” he added.
Morgan said the county should see “a pretty big adjustment” in most areas in 2015.
“Definitely down,” he said.
The one exception, Morgan said, might be Midtown. 
“That commercial area right there around Kroger and Bojangles’, that’s definitely on the way up,” he said. “Other than that, I think most of the other properties in the county are going down from what the sales indicate.”
Morgan said he didn’t have a percentage on how much property values have dropped.
“Since we have not reappraised yet, I do not have any solid information on that,” he said. “We won’t know for certain until early 2015.”