Executive Summary
The Houston Land Bank has brought $37,682,335 in property value back to the market. For several years, the Houston Land Bank has continued to acquire and sell properties for market sale; the cumulative effect of our activities has led to more tax revenue that goes directly to help public schools, the City of Houston, and Harris County to improve their programming. Our activities have also provided opportunity for residents to build wealth through homeownership.
Our work increases city-wide property value and tax revenue while also improving the quality of life for our hardest hit communities.
Below are the major outcomes of the Houston Land Bank’s work from 2004 to April 2018. They provide a snapshot of how we measure progress, and will be updated annually as data becomes available.
Land Bank Activity 2004 – 2018
The line chart below shows Land Bank activity from 2004 to 2018. The dark blue line represents acquisitions, the yellow line represents parcel sales, and the green line represents homes sold.
Houston Land Bank brings millions in property value back to the market each year.
Since 2007, the Houston Land Bank has brought $37,682,335 in property value back to the market. For several years, the Houston Land Bank has continued to acquire and flip properties for market sale; the cumulative effect of our activities can provide insight of what can be achieved in our next chapter.
Total Property Value Reentered into Market
$37,682,335
Houston, TX
Houston Land Bank activity leads to better schools, and a better city.
Yearly Property Tax Revenue Added
Independent School Districts
$328,402.42
City of Houston
$192,321.56
Community College
$32,663.03
Harris County
$124,898.25
We work where the community needs investment and increased local wealth.
The Houston Land Bank works with neighborhoods in need of community reinvestment. The map below shows the income gap between Land Bank active neighborhoods to date and the rest of the city.
The Houston Land Bank provides opportunity for residents to build wealth through homeownership.
To date, the Houston Land Bank’s active neighborhoods have been among the lowest income areas in the city for nearly 4 decades. Even worse, the gap between our targeted neighborhoods and the 5 wealthiest continues to grow. This inequality highlights that the private market has failed to respond to the needs of Houston residents in our active neighborhoods to date. Our work, however, helps build community and improve quality of life for those that need it most.
Over $7,000,000 of value is ready to reenter the market
Based on our current inventory, the Houston Land Bank is able to reintroduce over $7,000,000 back into the market. To achieve this, a new phase of programming will take underutilized and tax foreclosed properties and re-enter these back into tax productive status. This creates value for Houston’s residents, the City, and the County.
Market Value of Current Inventory
$7,181,564
Houston, TX
