Commission hopes task force can look into decreasing Orange Mound property values

Commission hopes task force can look into decreasing Orange Mound property values

MEMPHIS, Tenn. (WMC) - After the Shelby County Assessor found properties in Orange Mound were rapidly decreasing in value, he asked the Shelby County Commission to do something about it.

Wednesday, the commission will take the next step in the mission to help raise property values in the historic neighborhood.

Last month, Shelby County Assessor Melvin Burgess appeared in front of the commission to present his findings that property values in Orange Mound have decreased 30 percent in 10 years.

The Shelby County Commission will propose forming a task force to look at what can be done for property values.

Commissioner Reginald Milton is sponsoring a resolution to adopt Burgess' report on property values in Orange Mound and form a task force.

Burgess said he started looking into Orange Mound property values after a study by the Brooks Institute found homes in predominantly black neighborhoods were valued as much as 50 percent less than similar homes in predominantly white areas.

He also proposed a moratorium on demolishing blighted properties in the neighborhood, with the hope homes can be rehabilitated for potential homeowners.

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