Preventing Tax Foreclosures in the City of Buffalo
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Over the past three years, tax foreclosures have risen approximately 150% in the city of Buffalo. While tax foreclosures are spread across the city, they are heavily concentrated in the Masten and Fillmore districts of the city. To combat the increase in tax foreclosures, Buffalo should study the principle causes of tax foreclosures in the area and be prepared to provide financial education classes, payment plans extending for more than one year, and financial assistance to qualified individuals (low to 0% interest loans). Unfortunately, the lack of definitive information on the causes of tax foreclosures in Buffalo makes it impossible to provide a specific combination/ratio that the city should follow in applying these remedies to prevent tax foreclosures.
Buffalo; Housing/Neighborhoods; Tax Foreclosures; Report; Other; Housing/Neighborhoods; Environment