Published: July 19, 2008 05:54 pm            

Property taxes increase

By Patrick McCreless

PATRICKM@CULLMANTIMES.COM

If Cullman residents need something to blame for the recent increase on their property taxes, they need look no further than the county’s housing market last year.

“Last year was an outstanding year,” said Brannon Ray, office manager for Doyle Real Estate. “It was one of the best volumes we’ve had.”

Approximately 35,000 residents in Cullman County received their latest property tax appraisals last week, and despite the current housing market slump across the country, many discovered the value of their homes — not to mention their property taxes — had increased. However, Cullman County Revenue Commissioner Kay D. Williams-Smith said the latest appraisals are not based on this year’s housing market.

“You pay in the rear,” Smith said. “You pay this year what happened last year. We go by fair market value — what it is selling for on the open market.”

According to statistics from the Alabama Center for Real Estate, home prices in Cullman increased slightly throughout last year and were relatively stable. At the beginning of the appraisal cycle, homes sold for $114,000 on average and for $125,000 at the end of the cycle. Throughout most of the last year, median home price averages stayed in the $130,000 range.

Home sales last year were also relatively brisk.

July experienced the most sales last year with 92 homes sold — almost double the maximum number of homes sold in a month just seven years prior. In the last three years, the maximum homes sold in a month were in the 80s.

Scott Andrews, chief appraiser for Cullman County, said Cullman’s housing market thrived compared to others across the state last year due mainly to moderate home building.

“The market wasn’t as saturated here in Cullman as in other counties,” Andrews said. “We had a conservative to moderate growth level.”

Smith could not agree more.

“We didn’t over build,” she said. “Our sales market has really stayed steady.”

Smith noted that because property taxes are based on appraisals, citizens are encouraged to come by the revenue commission office if they think taxes are unjustifiably high. She said county appraisers are not able to enter homes, and therefore cannot see things that would tend to lower value.

“If you’re dissatisfied about an appraisal you need to come in and talk to us,” Smith said. “Everything on your house amounts to appraisals. You need to go over it and make sure it’s right.”

However, Smith said citizens should bring proof, such as their homes’ insurance rate.

“If insurance won’t insure for as much as it’s appraised ... that’s proof,” Smith said.

Ray said Cullman’s housing market has slowed some this year, but it is still not as bad as other markets in the country.

“The majority of foreclosures out there are in other states. ... The majority are in just four states,” Ray said. “The sky is not falling.”

Cullman property taxes are due Oct. 1.

        

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