June 11, 2025

Major Real Estate Transactions in Hamilton County

News Summary

Hamilton County has experienced a surge in significant real estate transactions, indicating a strong property market. Notable sales include a $12.5 million property, followed by sales above $8 million. As the county handles property value reassessments and tax rate adjustments, new developments, including a planned apartment complex, aim to meet housing demands. Residents can also participate in tax exemption reviews, underscoring the county’s ongoing efforts to ensure fair taxation. The recent data reflects an active market despite rising property values and potential tax implications.

Major Real Estate Transactions in Hamilton County Announced for May 2025

Hamilton County reported significant real estate transactions for May 2025, highlighting a robust property market amid concerns regarding rising property values. The highest transaction for the month was a sale of $12,500,000 for a property located at 14 Pryor Dr., followed by a sum of $8,850,000 for a property on Bill Jones Road. Additional notable sales included properties at 1640 Hillcrest Road for $5,400,000 and 3 Riverside Lane for $5,320,411.

The remaining top transactions included properties at 1966 Northpoint Blvd for $4,200,000, 1101 Concord St for $4,195,000, and 721 Eastgate Loop for $3,860,894. The sales continued with properties at 6745 Customer Delight Dr for $3,820,000, 325 E. Main St for $3,500,000, and 298 Noll St for $3,100,000. While the Hamilton County Register’s Office did not publish this data, it was classified as public under T.C.A. 10-7-503.

New Development Planned

In addition to these transactions, Hamilton County is set to welcome an additional apartment complex at 702 Manufacturers Road, which will comprise five buildings located west of the freeway. This initiative will enhance the housing availability in the area, catering to the increasing demand for residential properties.

Property Value Reappraisal Concerns

As homeowners in Hamilton County reassess their property values, they have until 4 p.m. on Friday to submit formal appeals regarding that reappraisal. County Assessor Marty Haynes indicated that homeowners will receive notices reflecting their property values based on comparable sales from 2021 to 2024. While some property values have increased significantly—by as much as 40 to 60%—this has raised concerns regarding potential property tax increases.

Tax Rate Adjustments

Despite apprehensions regarding rising property values, Haynes reassured residents that under state law, local tax rates must decrease when property values increase. This legislative framework is designed to prevent local governments from benefitting financially from the increase in property valuations alone. The new confirmed tax rate is set at $1.51 per $100 of assessed value, marking the lowest rate since 1941, a decrease from the previous rate of $2.23.

All municipalities within Hamilton County, including Chattanooga, will experience decreased tax rates following these property reappraisals. Property owners can review comparable sales in their neighborhoods by accessing sales.hamiltontn.gov.

Tax Exemption Review for Properties

Moreover, Hamilton County has announced a comprehensive review of over 26,000 tax-exempt properties, which is aimed at confirming their eligibility for exemptions. This in-depth examination marks the first thorough review since 2009, underscoring the county’s commitment to maintaining accurate property records and ensuring fair taxation practices.

Conclusion

The significant real estate transactions in Hamilton County, alongside the reassessment of property values and subsequent tax adjustments, highlight the dynamic nature of the local property market. As the county moves to provide clarity and stability in housing and taxation, residents remain informed about their rights and obligations regarding property ownership.

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Additional Resources

Author: STAFF HERE CHATTANOOGA WRITER

The CHATTANOOGA STAFF WRITER represents the experienced team at HEREChattanooga.com, your go-to source for actionable local news and information in Chattanooga, Hamilton County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Riverbend Festival, Chattanooga Oktoberfest, and Moon River Festival. Our coverage extends to key organizations like the Chattanooga Area Chamber of Commerce and United Way of Greater Chattanooga, plus leading businesses in manufacturing, insurance, and utilities that power the local economy such as Volkswagen Chattanooga, BlueCross BlueShield of Tennessee, and EPB. As part of the broader HERE network, including HEREBristol.com, HEREKnoxville.com, HEREMemphis.com, and HERENashville.com, we provide comprehensive, credible insights into Tennessee's dynamic landscape.

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