Coffee Co. records record property tax collections | WDHN
COFFEE CO., Ala. (WDHN)—Stats indicate recent Federal Reserve interest rate hikes are slowing
the housing market in order to “control inflation”.
But despite the higher rates when buying a home, Coffee County officials are finding
record property tax revenue.
This week, Coffee County Revenue Commissioner Ronnie Burns told the
county commission only in fiscal year 2021. His office brought in $19 million,
a record amount despite the pandemic.
Burns says it’s not just Enterprise, but throughout Coffee County, real estate is selling like hot cakes.
This is despite recent increases in mortgage rates. Burns says, “Farmland has really gone up in value. You say your neighbor across the way brags about getting $60,000 more than he thought he was getting. Guess what this affects your land and your place value.
For Enterprise realtor Travis Parker says a lot of people from Florida come
in his office looking for houses and land. So far, rising mortgage rates haven’t affected it
and many fellow realtors in wiregrass.
Parker says, “Overall, we’ve only built 50 homes compared to last year, but there’s a lot under construction. So if it is over and when there is
finished, these numbers will increase even more.