Huntington Land Bank
Returning tax-delinquent properties to productive use
The goal of the Huntington Urban Renewal Authority’s Land Bank is to improve the community by purchasing delinquent tax liens and putting viable properties and land into the ownership of those individuals and groups that will enhance them.
In August 2009, Huntington City Council adopted an ordinance to create a Land Bank Fast Track Authority. The ordinance stabilizes neighborhoods, preserves and increases property values and reduces the expense and burden on the state and its subdivisions of the tax lien sale system. The ordinance provides for:
- Boarding up, repair or demolition of the properties while holding the tax lien and recovery of the costs as additional statutory costs at the time of redemption.
- 1 percent interest per month earned on the tax liens to fund the Land Bank Fast Track Authority as provided in the current statutes.
- The assembly and possession of lots that are not redeemed and provide for quick return to the tax rolls.
The Land Bank Fast Track Authority will take over and manage properties with funds that would have gone to potential out-of-state investors under the current system. The proposal will also provide an immediate benefit to Cabell County and the State of West Virginia by providing for the sale of 100 percent of the tax liens in Huntington.
Click here to view properties listed for sale by the Land Bank Fast Track Authority and learn.