Lookout Mountain, Tn., Will Have 5% Tax Increase After Losing Hall Income Tax Wednesday, May 26, 2021 - by Gail Perry Residents of the town of Lookout Mountain, Tn. will see a five percent increase in their property taxes for 2022. Reappraisals were done throughout Hamilton County this year and the value of homes in Lookout Mountain, Tn. increased an average of 17 percent. The reappraised values are sent to the state which sets a certified tax rate for the town which should offset the increase. However, without other sources of revenue, Lookout Mountain, Tn. now relies upon property taxes and found it necessary to raise taxes.