Homestead Preservation District Could Soften The Blow Of Gentrification

With its downtown booming, Austin, Texas is trying to help homeowners who are feeling the squeeze from rising property values -- by buying their land.

1 minute read

January 12, 2007, 7:00 AM PST

By Christian Madera @http://www.twitter.com/cpmadera


"A homestead preservation district is modeled after tax increment financing. In a TIF district, a percentage of revenue generated by property taxes in a geographic area is designated to fuel future growth, repair, upkeep, or development;"

Now this financing model, which is often used as a tool to raise an areas property values, is being used to help owners effected by its success.

"The idea is that if a resident has trouble keeping pace with rising property taxes, the city could buy the homeowner's land and lease it back to her at no cost. This drastically lowers taxes by leaving homeowners to pay tax only on their homes and any subsequent improvements, not on the spiraling land costs. The city would pay for the lands by garnering a percentage of the increased appraisal costs in the district."

Friday, January 12, 2007 in The Austin Chronicle

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

Red 1972 Ford Pinto with black racing stripes on display with man sitting in driver's seat.

Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto

The Tesla Cybertruck was recalled seven times last year.

July 2, 2025 - Mother Jones

Close-up of park ranger in green jacket and khaki hat looking out at Bryce Canyon National Park red rock formations.

National Parks Layoffs Will Cause Communities to Lose Billions

Thousands of essential park workers were laid off this week, just before the busy spring break season.

February 18, 2025 - National Parks Traveler

Paved walking path next to canal in The Woodlands, Texas with office buildings in background.

Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50

A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.

February 19, 2025 - Greg Flisram

Screenshot of shade map of Buffalo, New York with legend.

Test News Post 1

This is a summary

0 seconds ago - 2TheAdvocate.com

Red 1972 Ford Pinto with black racing stripes on display with man sitting in driver's seat.

Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto

The Tesla Cybertruck was recalled seven times last year.

18 minutes ago - Mother Jones

test alt text

Test News Headline 46

Test for the image on the front page.

March 5 - Cleantech blog