St. Louis Public Radio | By Sarah Fenske with Abdul Abdullah, executive director of Park Central Development
Published November 30, 2021 at 3:00 PM CST
(Listen Here on St. Louis Public Radio)
Each year, approximately 50 St. Louis families lose their homes because they didn’t, or couldn’t, pay the real estate taxes. Those tax foreclosures come down to an average of just $3,500 — but they have a much bigger impact on both local families and the homes they are forced to abandon.
“When a family does lose their home to foreclosure, it impacts the property value of the homes that are around it,” said Abdul Abdullah, executive director of Park Central Development. “It also adds to the vacancy that is so prevalent within the St. Louis area. When a home is vacant, it becomes what I like to call a petri dish for negative impacts on community development and takes away from the safety and security in a neighborhood.”