The worst is over.

Well, maybe.

“We’re coming back up, said Revenue Commissioner Tim Russell. “We are starting to see things happen.”

That was welcome news for the Baldwin County Association of Realtors to hear at their breakfast meeting held at the Baldwin County Coliseum. April 16.

But, there was some sobering news, news that means the state economy is not running well yet.

“Corporate and business taxes are down 25 percent,” Russell said.

And while Baldwin is just one county in Alabama, it accounts for about half the property taxes in the state, Russell added.

Russell was the main speaker, but he was joined by Revenue Comissioner-elect Teddy Faust and Baldwin County Chief Appraiser Walt Lindsey at the podium.

While Faust says that property values have fallen, there is a “lot of growth” that will sustain the county through this bad time. Faust was responding to a question form the audience.

Lindsey told the group that his office depends on the Realtor’s Multiple Listing Service for information.

“We’re asking your help to get accurate numbers,” Lindsey said. “The real issue for us is to get accurate numbers.”

Russell has also championed a “captive” insurance company to cover risks along the coast. In the days since hurricanes Ivan and Katrina, more and more companies are declining to write policies for Baldwin and Mobile counties, hampering growth.

Supporters claim that a captive insurance company, one that is only able to operate within a set boundary, will allow people to obtain property insurance at more reasonable rates. Supporters also say the competition will force more traditional companies to offer its customers better rates. The Alabama legislature passed a law in 2006 that allows the formation of captive insurance companies.

“I still think this is the best way to go,” said Russell. He added that because Mobile and Baldwin counties add so much to the state coffers “it’s just not fair” that they should be without an affordable way to insure property.

“We need about $40 million (to fund the captive insurance program),” said Russell, adding that the funds may come from “road money.”

ROBERTSDALE, Ala. — While being close to the Gulf causes hurricane problems for coastal counties, it’s also a blessing, Russell believes.

He mentioned that new federal oil and gas leases were being signed well offshore, and while a good proportion of the money from the leases was being earmarked for environmental concerns, some money would be finding its way to Mobile and Baldwin counties and the rest of the state.

Russell also mentioned Gulf State Park. Despite an Alabama Supreme Court ruling that a planned hotel and convention center on the property violates the State Parks Concession Act, Russell is sure that something will be built there. The previous hotel, destroyed by hurricanes in 2004 and 2005 provided funds for much of the state’s park system.

“We are going to get a park for you one way or the other,” promised Russell.