Returning Tax-Delinquent vacant properties into Assets
Sometimes, the route to acquiring a tax-delinquent, vacant property is through foreclosure for unpaid real estate taxes. In those instances, the Land Bank is here to help!
How do I find a tax-delinquent property I can acquire?
There are several steps to find a potentially eligible property.
You can search through an online mapping tool for tax-delinquent properties. Tax-delinquent properties in Montgomery County, outside of the City of Dayton, are marked in the Land Bank’s property search tool, GoGetProperties.com. Tax-delinquent properties inside the City of Dayton are marked on the City of Dayton’s property search tool, LotLinker.com. A property will also need to be deemed as tax lien eligible, noted on the Treasurer’s website, in order to be eligible. See our Go Get Properties Tutorial for more details.
Next, you will need to research if the property is vacant. Please contact two utilities (water, electric, gas) to determine if the property has active service.
Once you identify the tax-delinquent property you’re interested in and you believe is vacant, call the Land Bank at 937-531-6921 or email at email@example.com so we can research the property to make sure it is eligible for tax foreclosure through this Land Bank program. The Land Bank will research up to 5 properties at a time for you. If the tax-delinquent property is eligible, you must file an application and pay the program fee. The Land Bank’s role is to initiate the foreclosure and monitor the process, which can take between twelve and eighteen months. Once the foreclosure is finalized, you receive the deed and you can begin your improvements.
See our Frequently Asked Questions here for more information regarding acquiring tax delinquent properties.
What must I do once I acquire a property?
You make a legal agreement to improve the property and pay the property taxes going forward. (You’ll want to make sure you thoroughly read the application and affidavit!)
You can acquire a property to be your home, your investment property or an expanded yard. Property improvements include renovating the structure or demolishing it.
Am I eligible?
In order to apply for a property through tax foreclosure, you must meet the following qualifications:
- You must demonstrate financial capacity to fulfill program commitments.
- You must live or own property in Ohio.
- The real estate taxes for any property you own must have been kept current during the past two years.
- In addition to real estate taxes, local, state, and federal taxes must be paid current.
- You cannot have lost title or had foreclosure actions filed against any property you own, or have been part of a bankruptcy case within the past two years.
- Any property you own cannot have code violations within the past two years, nor can there be a history of code violations on any properties you have previously owned.
- None of your properties can have a history of being a site for criminal activity.
- Applicant cannot, at any time, have more than 3 properties in process with the Land Bank’s tax foreclosure acquisition program or recently acquired through the Land Bank’s tax foreclosure program and still remain unimproved
What does it cost?
The fee is based upon the proposed use and is payable in full when you submit the application.
- Adjoining owner (you live next door) - $2,000 per property
- Owner/occupant (you plan to rehab for primary residence) - $3,000 per property
- Investor (you plan to rehab and rent or sell) - $4,000 per property
For more information, see our Frequently Asked Questions here.