A good article on the recent tax revaluation in Shelby county, Alabama Click though for the whole article and some good background and analysis.
By Veronica Kennedy — The Birmingham News and Jeff Hansen — The Birmingham News But real estate agents in Shelby County acknowledge that sale prices dropped overall last year. And Tom Brander, a real estate analyst and publisher of the Rudulph-Brander Report, thinks the county’s revaluation understates the degree that home prices have dropped.
“What I’ve seen over the last year is about a 6 percent reduction in price,” he said. “The county is setting itself up to deal with a lot of protests, because the reductions are probably more” than the 1.4 percent average the county found.
Brander said the higher-priced home market is especially distressed.