The City of Knoxville saw $22.6 Million in property valuation growth in 2024, which was a 5% increase from 2023. 

Property valuation for a city refers to determining the market value of all real estate within the city’s boundaries. Knoxville has seen growth in areas such as the Veterans District, which brought more housing in 2024 and will continue to add housing in 2025. The city will also see a new Kading housing development start construction in 2025. City Manager Heather Ussery says retiring TIF districts also contributed to the growth.

“It’s great to see an increase in those valuations. For us it was quite a significant increase this year. It’s a non TIF taxable valuation and so for us we have also retired TIF’s at recent meetings that factors into that as well, that those properties are on the tax rolls, but it also shows those developments that are now coming on board.”

Five new homes in the Veterans District by Origin Homes and an apartment complex by Hugerich Holdings will break ground this spring.