The assessed tax value of various neighborhoods in Nashville, Tennessee has recently been the subject of great controversy and discussion as the latest assessment draws near. Entrepreneur Scott Lumley will be one of those keenly interested in the expected assessed property tax increases of more than 30 percent for many neighborhoods. Lumley has been instrumental in the development of many traditionally undesirable districts in Nashville to become more desirable for individuals. The entrepreneur has been working diligently to modernize aging commercial buildings into dwellings that are much sought after by those already living in the city and those arriving from other areas.
Scott Lumley is one of the rising stars amongst entrepreneurs in the Nashville area for his ability to turn aging products and buildings into a profit. His business career began when he bought a lot auctioned during a liquidation sale for just $250, which he later sold via ebay for a profit and prompted his first business selling electronics over the Internet. The Large Lots brand then entered the physical retail location industry to create a range of products that have proven successful and profitable. From here the entrepreneur began his property business, which has been instrumental in improving many neighborhoods across the city of Nashville.
Davidson County Property Assessor George Rooker took the unusual step of going public with his estimated property tax assessment increases long before the 2017 assessment takes place. Rooker fears the probable average increase of over 30 percent will prove a burden for many, but revealed a 2012 law prevents the metro area from collecting more taxes than in previous years. District Seven is expected to see the largest increase in assessed property tax with a 27.2 percent increase in taxes, which will also see the median home price reach an average level far above cities in the south of the U.S. of a similar size. Despite the concerns about assessed tax levels the increase in median home prices shows the positive effect Scott Lumley and his fellow property entrepreneurs are having on the Nashville property market.