How It Works
Property owners with vacant properties adjacent to their owner-occupied property will have the option to purchase a Land Bank property for the discounted price 2/3 of Fair Market value plus recording fees.
Nonprofit will have the option to purchase a Land Bank property for the discounted price 3/4 of Fair Market value plus recording fees.
Property owners with properties adjacent on either side or to the rear of their business or rental property will have the option to purchase a Land Bank property for fair market value plus recording fee.
*Fair market value is based upon Realtor’s Opinion of Value (fair market value usually starts at $750-1,500.00 depending on whether the parcel is zoned commercial or residential, the possibility of redevelopment, size, and location).
We will combine the new side lot with your existing property. Doing so increases the homeowner’s land value and brings the once-delinquent lot back to the tax rolls.
All side lot transfers need to follow our policies and local land use regulations. Some vacant lots are being held for strategic assembly purposes and won’t be available under the program.
50 Park Ave East
Mansfield, Ohio 44902
(lower level one)
419-774-5623
info@richlandcountylandbank.org
Monday-Friday 8am-4pm
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