Virtual Land Bank Platform™ by Parcel Revenue Corporation pricing depends on several factors including, but not limited to, the number of total parcels in a area, the number of parcels local government contracts with us to monitor, and the amount of income sales, and property tax revenues generated per parcel in your community. Exact pricing is only available after an initial consultation and feasibility study are completed. Turn-around-time is currently 2-3 weeks to receive a complete pricing proposal.

The Platform is optimized for both municipal and county/parish level governments. While there are hundreds of factors we consider, local governments who have already deployed a Vacant Property Registry and related local ordinance are best suited to see result quickly. 

While there are 14 overall metrics and improved by the Platform, the main key metrics are Parcel Revenue At-Risk (tracks the amount of tax revenue at-risk due to distressed real estate in your community), Parcel Revenue generated (how much revenue has been generated/saved by the Platform), and Vacancy Rate (how many properties are vacant or at-risk of being vacant versus how many total properties are in your community).

Parcel Revenue is an algorithm that assumes every parcel of real estate in your community generates income, sales, and property taxes for your local governments. We conduct surveys of data specific to your community to determine how much Parcel Revenue each parcel should generate over the next 5 years. That number is then multiplied by the total number of vacant and at-risk properties in your community. This analysis also contemplates the Principle of Regression in real estate states that a higher-valued property will suffer a decrease in value if it is located in a neighborhood with lower-valued homes. This phenomenon occurs because the, superior property’s value is dragged down by surrounding, less desirable, or smaller properties. 

Assuming the average parcel of land in a community generates $3000 in yearly income taxes, $4000 in yearly sales taxes, and $6000 in yearly property taxes, the total number of taxes generated ($13000) is multiplied by 5 to give us a Parcel Revenue number of $80,000.00. This tells us that for every property in your community that sits vacant for 5 years, $80,000.00 in tax dollars are lost. This formula also contemplates the Principle of Regression in real estate states that a higher-valued property will suffer a decrease in value if it is located in a neighborhood with lower-valued homes. This phenomenon occurs because the, superior property’s value is dragged down by surrounding, less desirable, or smaller properties. 

Code enforcement and land banking are proven methods that, when properly deployed, get results. However, both are reactive which means properties must become poorly maintained and/or unproductive before these methods are triggered. The Platform is a predictive tool which can predict and prevent vacancies 1-7 years before property distress adversely impacts tax revenues and the community as a hole. Further, if the vacancy rate in your community rises faster than code enforcement and land banking can react to avoid unproductive real estate from accumulating, the backlog of vacant properties will overrun the community, causing extended “zombie” vacancies (long-term blight). This equates declining property values, population, and tax revenues for years to come.

The Platform boasts patent-pending technology called “Zombie” Title Influence Scoring which gathers data from public records and physical property inspections to determine when the legal and physical characteristics that cause extended “zombie” vacancies are adversely impacting the community and what steps must be taken to counter that negative impact.

Getting started begins with an application. Before applying, local governments may schedule a pre-application call to speak with one of our experts and review the program requirements. During this call, we will walk your team through the technical, staffing, and data requirements and help determine which Virtual Land Bank Platform™ program is the best fit for your organization. After you submit an application, our team will review it and invite a limited number of local governments to move forward. 

If selected, we will gather the required data and present a clear proposal outlining the recommended platform, pilot structure, timeline, and costs.

The Platform guides code enforcement officials with data-driven insights  that laser focus on the exact properties that adversely impact tax revenues and increase blight. Before and after code enforcement efforts are triggered, we handle all aspects of data collection and property owner engagement and counsel property owners to achieve milestones, such as property tax payment plans and mortgage loan modifications, via trained, licensed attorneys and real estate agents working with HUD-approved foreclosure counseling agencies. The result of this partnership is a drastic improvement in code enforcement efficiency and the ability to assist a large number of property owners without the need for government to hire, train, and compensate additional government employees. All property owners assisted are tracked and reported back to you and engagement only begins after property owners release your local government from any and all liability. 

Data security and privacy are foundational to how the Virtual Land Bank Platform™ is designed and operated.

We work exclusively with local governments and understand that we are entrusted with sensitive constituent, property, and enforcement-related data. Our security program is built on Google Cloud’s enterprise infrastructure and aligned with the expectations of municipal IT, legal, and risk management teams.

Data Ownership and Control
All data remains the property of your local government.
We do not sell, license, or share your data with third parties.
Your organization retains full ownership and full control over how data is used and accessed.

Secure Google Cloud Infrastructure
The platform is hosted on Google Cloud’s enterprise-grade infrastructure, which provides:

• Encryption of data at rest and in transit by default

• Continuous infrastructure monitoring and threat detection

• Network-level security controls and firewalls

• Redundant systems for high availability and disaster recovery

Google Cloud’s security controls are used by governments, financial institutions, and critical infrastructure providers worldwide.

Access Controls and User Permissions
Access to the platform is role-based and permission-controlled.

• Only authorized users from your organization can access your data

• Administrative controls allow you to manage users, roles, and permissions

• Multi-factor authentication and secure login practices are supported

Auditability and Activity Logging
All system activity is logged and auditable, including:

• User access and changes

• Data updates and workflow actions

• Administrative activity

This supports internal controls, public accountability, and compliance with audit and oversight requirements.

Public Records and Records Retention
The platform is designed to support:

• Public records and freedom of information requests

• Records retention schedules

• Secure export of data for legal, audit, and reporting purposes

We work with each jurisdiction to align the system with local and state public records laws.

Data Minimization and Purpose Limitation
We collect only the data necessary to operate vacancy resolution workflows.
Data is used solely for program operations, reporting, and performance measurement.

Security Reviews and Documentation
As part of onboarding, we provide documentation to support municipal IT and legal review, including:

• Security architecture overview

• Data handling and privacy policies

• Incident response procedures

• Business continuity and disaster recovery policies

We routinely support formal security reviews by municipal IT departments and external auditors.

No Data Monetization
We do not monetize constituent or property data.
Your data is never used for advertising, resale, or external profiling.