Schools to make counteroffer on property

The lot is located across from the Madison County government complex.

The school system was offered $20,000 for the land earlier this month. The $32,000 counteroffer is based on a property tax assessment.

Madison County Superintendent Mitch McGhee originally thought $20,000 was a good deal before receiving a recent appraisal of $47,000.

That appraisal was based prices of similar land in the county, including an $84,000 lot located at the corner of Hwy. 98 and Hwy. 29 — the possible site of a grocery store.

McGhee said that value might have skewed the appraisal a bit high, but still thinks the school system can lure more than $20,000 for the land.

He and the Madison County Board of Education (BOE) agreed that the tax appraisal price — $32,000 — was more suitable for a counteroffer.