Market Conditions in Foley>Question Details

Laura Allison, Other/Just Looking in Birmingham, AL

Is my tax assessment for a bare lot in the Riverwood subdivision in Foley reasonable?

Asked by Laura Allison, Birmingham, AL Wed Feb 27, 2008

We have a small lot (114' x 179.8) and boat lot in the Riverwood subdivision. Our property taxes for the last three years have been: $183, $281, and $538. Up, up, and up! The 2006 appraised value was $50,300 and the 2007 value was $96,200. Can anyone tell me if these values are reasonable for bare land in this subdivision, and if it would do any good to contest this valuation. Also, where can I find (online) a listing of properties sold in Foley, along with their selling price?

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Kristy Bushaw’s answer
I am sure you are aware your taxes are based on the value of property the previous year not your current tax year you are paying. Remember when we enjoyed the property going up and the property taxes remaining the same. Now they beat us while we're down. When the market began to drop the began to reassess the properties. I am sure you are aware the tax formula is 80% of the assessed value x .003 (millage rate) I hope this helps to understand. Not fair or good timing to begin raising taxes when insurance is so high and limited insurance availablility. The good new is we are starting to see relief on insurance yeah! Feel free to contact me atthe numbers below.
Kristy Bushaw
RE/MAX of Gulf Shores
0 votes Thank Flag Link Tue Aug 12, 2008
Hi Laura,

I did a quick lookup and did not find a completed sale for a lot in Riverwood for over $45,000. I also spot checked a few tax appraisal lot values in Riverwood and they are about the same values. You should file an appeal before the last Monday in April for taxes due Oct. 1, 2008.

Consult the Baldwin County Revenue office website for more information:

You can search Trulia for sold properties in Foley.

Good luck,

Dan in Fairhope, AL 36532
0 votes Thank Flag Link Wed Feb 27, 2008
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