Browsing by Subject "foreclosures"

Now showing 1 - 3 of 3
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    The Effect of Foreclosures on Crime in Indianapolis, 2003-2008
    (2012-09) Stucky, Thomas D.; Ottensmann, John R.; Payton, Seth B.
    Objective Until recently, few studies have examined the relationship between home foreclosures and crime. Foreclosures are one major source of neighborhood instability and can be expected to affect crime from several theoretical perspectives. Some recent research has found conflicting results on whether foreclosures cause crime. Method This study examines whether foreclosures are a robust predictor of crime and whether the effect of foreclosures on crime varies across neighborhood contexts. We estimate fixed-effects negative binomial models using geocoded Indianapolis foreclosure and crime data for 2003–2008 to predict crime counts in 1,000 feet × 1,000 feet square grid cells. Result Foreclosures exhibit consistent positive effects on indices of overall, property, and violent UCR-reported (where UCR is Uniform Crime Report) offenses in a cell and rape, aggravated assault, and burglary counts. In addition, foreclosures had greater effects on reported UCR crimes in stable neighborhoods, especially those with more owner-occupied homes. Conclusion Foreclosures were a robust predictor of crime in the current study.
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    Neighborhood Foreclosures and Property Tax Burden: An Examination of Change in Valuation Standard and Assessment Equity
    (2014) Payton, Seth B.
    The quality of property tax assessment practices impacts the stability of local government revenue and the equity of property tax burden. This study examines the potential shift in property tax burden associated with concentrations of foreclosures while taking into account a procedural transition from a lagged market versus a current market valuation standard. The findings suggest that property tax administration matters, especially with a growing number of foreclosures. In the case studied, current market value assessments partially mitigate equity consequences of nearby foreclosure sales. It is concluded that foreclosures have a relatively small, but significant negative effect on the change in assessed values of nearby properties. That shift mitigates the over-assessment associated with foreclosures under a lagged assessment standard. However, the analysis illuminates the continued complexity of achieving horizontal equity in the property tax base within or near higher concentrations of foreclosures after the transition to current market value assessment.
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    The Spatial Extent of the Effect of Foreclosures on Crime
    (2015-01) Payton, Seth B.; Stucky, Thomas D.; Ottensmann, John R.
    Although neighborhood stability has long been considered a substantial determinant of crime, foreclosures have not been the subject of concerted research among criminologists until recently. A number of recent studies have examined the linkage between home foreclosures and crime. Though generally finding a significant relationship, studies have used different approaches and units of analysis. This variation led us to examine the spatial extent to which foreclosures affect a relatively small surrounding area. In this paper, we consider the spatial extent of the foreclosure effect on crime by estimating fixed effect negative binomial models using geocoded UCR data for 2003–2008 and foreclosure data to predict crime counts using the number of foreclosures within various small area radii. Results show that, independently and jointly, foreclosures are a predictor of crime up to at least a distance of 2250 feet. Importantly, that effect declines with distance. We conclude with a discussion of the implications of those findings.