Area tax assessors are busy trying to estimate the impact that foreclosures will have on the local property tax base.

The number of foreclosures in Cherokee County north of Atlanta quadrupled in 2008, according to John Adams, the county’s chief assessor.

There were about 1,900 foreclosures in Cherokee County, compared to the 400 to 500 officials say they see most years. Adams said that the high number might have a bearing on assesments, according to an article that appeared in the Atlanta Journal Constitution.

Foreclosures typically drive down the price of homes near them. Market value plays an important part in tax assessments.

The county had enjoyed rapid increases in the value of its tax base over the last few years, according to Cherokee County Commission Chairman Buzz Aherns. 

Efforts by President Obama’s administration to stem the rising tide of foreclosures are likely to be a hit with local governments across the country that depend upon property taxs to generate revenue.