Local real estate sales drop in 2007
By LAURA THORNBURG
Staff
The value of property transferred in Alleghany County decreased in
2007, according to information provided by the Alleghany Register of
Deeds Office. Last year's decrease marked the first year—over the
course of several years—the value of property transferred between
buyers and sellers has decreased.
During the 2007 calendar year, property was sold in the county for a
total of $109,000,000.
That figure represents a $7,896,750 decrease in property sales as
compared to the 2006 calendar year's property transfers of
$116,896,750.
The cost of property sold during the calendar year in 2005 was
$92,214,000, said Register of Deeds Lizabeth Reeves Roupe.
"The values surged in 2005 and 2006, but fell off slightly in 2007.
Values still did not fall back down to the level of 2004 and 2005,"
Roupe commented.
Roupe stated the office received $218,000 in total excise tax (deed
stamp) revenue during the 2007 calendar year, a $15,795.50 decrease
of 2006's total of $233,795.50. Total excise tax collections for the
2005 calendar year was $184,428.
Roupe explained that excise tax is a state tax charged on land
transfers in which the money or an interest in property is exchanged.
The amount of excise tax charged represents $2 per $1,000 of the
actual sales price or value of the interest in property exchanged.
Total revenue received by the register of deeds office during the
2007 calendar year was $325,854, a $20,082.55 decrease in comparison
to 2006 collections which totaled $345,936.55.
In addition to recording property transfers, the register of deeds
office also keep other public records. Those records include assumed
names, births, corporate papers, deaths, deeds of trust, fixture
filings, foreclosures, land plats, military discharges, notary oaths,
and satisfaction of deeds of trust.
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