Dear Mr. White:
We know you purchased your home and thought you had Fee Simple Title to the home (even though you could have paid less initially and rented it). However, the real estate market has increased by 20% since last year (check KNS front cover a few weeks ago to verify). There are people moving into Knoxville, who simply put, are willing to pay more for your house than what you purchased it for. Even though you legally have ownership of your home and entered into agreements securing that ownership, it's what's in the best interest of the Knoxville Community. Don't worry, you can continue to live in your home as long as you pay into the City/County the difference between what your house cost when you purchased it and what it is worth now. This is only fair, because some people on your street paid more for your house than you did. How could it be fair to have two different homes on the same street with different purchase prices?
We know you purchased your home and thought you had Fee Simple Title to the home (even though you could have paid less initially and rented it). However, the real estate market has increased by 20% since last year (check KNS front cover a few weeks ago to verify). There are people moving into Knoxville, who simply put, are willing to pay more for your house than what you purchased it for. Even though you legally have ownership of your home and entered into agreements securing that ownership, it's what's in the best interest of the Knoxville Community. Don't worry, you can continue to live in your home as long as you pay into the City/County the difference between what your house cost when you purchased it and what it is worth now. This is only fair, because some people on your street paid more for your house than you did. How could it be fair to have two different homes on the same street with different purchase prices?
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