| % of tax foreclosed properties sold.PM-Property Management |
Analysis | |
TF Rev = $0; Surplus = 0 sold with 3 sales pending
Measure Definition & Importance |
Each month, tax foreclosed properties that do not sell at the County Courthouse are struck off to the City to maintain and sell. This equates to approximately 240 properties added to the inventory per year. During the time that the properties are included in the City's inventory, administrative and maintenance fees continue to accrue. The City's role as Trustee for the local taxing agencies is to sell as many tax foreclosed properties in order to collect as much of the post-judgment taxes as possible for those agencies and to return properties to the tax rolls. Historically, on average, Real Property sells five (5) tax foreclosed properties per month.
Additional properties are struck off (placed in City inventory) monthly. Conversely, variable numbers of direct sale requests are received, which take approximately 3-4 months to complete. Additionally, Quarterly sealed bid sales are also held, whereby minimum bid prices are reduced progressively in order to incentivize bids/sales.
A property is considered as sold when the check from the buyer has been received by the Real Property Division.
The target is to sell a minimum of 60 Tax Foreclosed Properties in the fiscal year.
# of tax foreclosed properties sold |
Service Areas |
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PM.3.2 Sales (City-Owned & Tax Foreclosed Properties)
PM-Property Management
Attachments |
# of tax foreclosed properties sold (YTD) |
Measure Data | Last Calculated 24 days ago |
| Period |  | Status | # of Tax Foreclosed Properties Sold (Direct + Bid) | FYTD Tax Foreclosed Properties Sold | # Tax Foreclosed Properties Sold (Direct Sale) | # Tax Foreclosed Properties Sold (Bid Sale) | Overall Target | High Variance (FY Target) | Low Variance |
|---|---|---|---|---|---|---|---|---|---|
| Aug-16 |  | Monitoring/No Info | 71.00 | ||||||
| Q1-FY2017 |  | On Target | 27.00 | 27.00 | 18.00 | 9.00 | 15.00 | 10.00 | |
| Q2-FY2017 | | On Target | 102.00 | 129.00 | 27.00 | 75.00 | 15.00 | 10.00 | |
| Q3-FY2017 | | On Target | 127.00 | 256.00 | 13.00 | 114.00 | 15.00 | 10.00 | |
| Q4-FY2017 | | On Target | 46.00 | 302.00 | 4.00 | 42.00 | 15.00 | 10.00 | |
| Q1-FY2018 | | On Target | 54.00 | 54.00 | 5.00 | 49.00 | 120.00 | 15.00 | 10.00 |
| Q2-FY2018 | | On Target | 28.00 | 82.00 | 0.00 | 28.00 | 120.00 | 15.00 | 10.00 |
| Q3-FY2018 | | On Target | 45.00 | 127.00 | 1.00 | 44.00 | 120.00 | 15.00 | 10.00 |
| Q4-FY2018 | | On Target | 50.00 | 177.00 | 1.00 | 49.00 | 120.00 | 15.00 | 10.00 |
| Q1-FY2019 | | On Target | 36.00 | 36.00 | 1.00 | 35.00 | 120.00 | 15.00 | 10.00 |
| Q2-FY2019 | | On Target | 38.00 | 74.00 | 3.00 | 35.00 | 120.00 | 15.00 | 10.00 |
| Q3-FY2019 | | On Target | 25.00 | 99.00 | 7.00 | 18.00 | 120.00 | 15.00 | 10.00 |
| Q4-FY2019 | | Insufficient Progress | 1.00 | 100.00 | 0.00 | 1.00 | 120.00 | 15.00 | 10.00 |
| Q1-FY2020 | | On Target | 43.00 | 43.00 | 1.00 | 42.00 | 120.00 | 15.00 | 10.00 |
| Q2-FY2020 |  | Lagging | 10.00 | 53.00 | 3.00 | 7.00 | 120.00 | 15.00 | 10.00 |
| Q3-FY2020 | | On Target | 16.00 | 69.00 | 8.00 | 8.00 | 120.00 | 15.00 | 10.00 |
| Q4-FY2020 | | On Target | 19.00 | 88.00 | 1.00 | 18.00 | 120.00 | 15.00 | 10.00 |
| Q1-FY2021 | | On Target | 17.00 | 17.00 | 3.00 | 14.00 | 120.00 | 15.00 | 10.00 |
| Q2-FY2021 | | On Target | 29.00 | 46.00 | 21.00 | 8.00 | 120.00 | 15.00 | 10.00 |
| Q3-FY2021 | | Insufficient Progress | 4.00 | 50.00 | 2.00 | 2.00 | 120.00 | 15.00 | 10.00 |
| Q4-FY2021 | | Insufficient Progress | 0.00 | 50.00 | 0.00 | 0.00 | 120.00 | 15.00 | 10.00 |
| Q1-FY2022 | | Monitoring/No Info | 120.00 | 15.00 | 10.00 | ||||
| Q2-FY2022 | | Monitoring/No Info | 120.00 | 15.00 | 10.00 | ||||
| Q3-FY2022 | | Monitoring/No Info | 120.00 | 15.00 | 10.00 | ||||
| Q4-FY2022 | | Monitoring/No Info |
Data Source Details & Calculation Information |
Access database of Tax Foreclosed Properties; M&Cs authorize the sale of all tax foreclosed properties. As property sales are completed, Tax Resale Deeds are recorded in the Tarrant County Deed Records.
A property is counted as sold when the check from the buyer has been received by the Real Property Division.
Actual = # Tax Foreclosed Properties Sold (Direct Sale) + # Tax Foreclosed Properties Sold (Bid Sale)
Data Owner |
Target Type |