ST. LOUIS, Mo. – The Real Estate Tax Assistance fund helps combat the displacement of St. Louis homeowners who are unable to pay their real estate tax bills. After a great start in just over a month, the mayor’s office decided to help RETAF retain more money that will help residents in need.
“It’s about the impact of people, and people need assistance, and a lot people are hurting so it’s being able to really help keep their piece of the American Dream,” Executive Director of Park Central Development Abdul Abdullah said.
“For this coalition to come together and do what they do well it’s incredible,” he said.
Abdullah said initially it was an initiative by multiple entities that started with seventy-five- thousand dollars. Then, Mayor Jones’ office provided more financial assistance in the form of five-hundred-thousand dollars.
Not only will RETAF help people stay in their homes, but it also builds equity, and stabilizes neighborhoods.
“That’s why these next three years, that 500k that’s been allocated, should be for us to really hit that critical mass of people who are owner-occupied homeowners in the city,” Abdullah said.
He said already RETAF is helping ahead of the first land tax sale set to be held Tuesday morning.
“At this point we have 10 people who we have assisted in the past month,” he said.
“What we try to do is really do is work with those who are at the most critical stage of losing their homes. That’s why the sheriff’s department is very important because they have a list of people who will be evicted out of those homes, and those are the people we really target for this first phase to really try to help those who are most at risk.”
St. Louis City Collector of Revenue Greg Daly sent us this statement saying quote:
“RETAF intervenes at the most precarious moment for homeowners in our city’s real estate tax foreclosure system, helping families remain stably housed and hold onto their hard-earned equity.”
Abdullah said RETAF proves private and public entities can work in cohesion to do what’s best for the people.
“I appreciate Mayor Jones’ vision her compassion and Collector Daly’s vision and passion to work together to cooperate. That spirit is what this city needs to move forward,” Abdullah said.
