Land Bank

Land banks are governmental entities or nonprofit corporations focused on the conversion of vacant, abandoned, and tax-delinquent properties into productive use. The Newton City Commission created the Newton Land Bank in 2021.

Vacant, abandoned, and tax-delinquent properties are often grouped together as “problem properties” because they destabilize neighborhoods, create fire and safety hazards, drive down property values, and drain local tax dollars. Land banks are intended to acquire title to these properties, eliminate the liabilities, and transfer the properties to new, responsible owners in a transparent manner that results in outcomes consistent with community-based plans.