Feb
29

How Much Does Vacant Properties Cost?

I have had the Community Research Partners Project on the cost of vacant homes on my “to read” list for a week. Thankfully, I never gave up and read through the links this morning.

652802_derelict_building.jpgThe information found in this project is amazing. For example, in the state of Ohio we are facing:

  • $15,000,000 in annual city service costs
  • $49,000,000 in lost property taxes
  • 25,000 vacant properties.

The general information is amazing, but the depth of the research when looking at certain communities.

For example, it shows how Columbus - the state’s shining star - has several areas that continue to struggle. For example, the much-maligned Franklinton and near-Linden areas that have continually struggled.

Great read for anyone looking to get more information on the what the cost of vacant properties is to communities around the state.

Photograph by Sparky and used via license of Stock.xchg.

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Posted by Toby Boyce Delaware, Delaware Highlights, General News Subscribe to RSS feed

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Toby Boyce (#2006004451) is a licensed real estate agent in the state of Ohio and works under the Keller Williams Consultants Realty brokerage. The information provided on this Web site should not be construed as offering legal, real estate, financial or other advice to be relied on by the reader to make or refrain from making any decision or to take any action. Investment, mortgage, real estate, or financial services or strategies mentioned throughout this Web site may not be suitable for you. All posts and/or comments on this site is the property of the author and should not be taken as an endorsement or advice for your particular situation. Please consult a local professional before making any decisions.