The city of Killeen, Texas, publishes an audit report on abandoned properties

Matthew Grady, the city auditor of Killeen in the state of Texas, has conducted a study of the list of abandoned properties that are tax-delinquent and have code enforcement liens. 

In this audit, Matthew Grady revealed that the city currently has at least 37 such properties, some with liens dating back more than twenty years. These abandoned properties are primarily located within the North Killeen Revitalization Area and collectively cover approximately 10 acres, a significant amount of land that affects the city in multiple ways, mainly because together they represent a loss of $58,000 in property tax revenue and decrease the market value of adjacent properties.

Although this figure is relatively low compared to other cities in the country, some of which have hundreds of abandoned properties, the audit aimed to identify the inventory of tax-delinquent abandoned properties with pending liens or ongoing foreclosures, as well as to evaluate the financial impact of uncollected taxes. 

It also sought to explore the feasibility and advantages of implementing a land bank-type program to acquire, sell, or repurpose these abandoned properties.

The review also discovered that unreimbursed maintenance expenses by the Code Enforcement Department exceeded $200,000. Moreover, the deterioration of abandoned properties leads to a decrease in the prices of nearby properties, averaging $109,000, compared to the citywide average home value of around $246,000. 

Ultimately, these abandoned and deteriorating properties pose a public safety risk and reduce the quality of life for residents in these areas.

To initiate foreclosure on its tax-delinquent properties, the city of Killeen relies on authorizations from Bell County. Notably, in the past three years, the county has conducted foreclosure processes and auctioned 31 tax-delinquent properties in Killeen, approximately half of which were abandoned homes.

In his report, Matthew Grady concludes that over the past fifty years, local governments across the country have effectively used land bank-type programs to combat neighborhood deterioration. Therefore, this would be a very good alternative to address Killeen’s issues, as although the city’s list of abandoned properties is not very extensive, this program would help renew these properties and increase tax revenue for the city.

Available Foreclosures: 

Killeen: 31 homes available.

By Elías DaSilva | 08 de Noviembre de 2024.