Tax Sale Properties in Kamloops-BC

Tax Sale Properties in Kamloops-BC The City of Kamloops-BC has 74 properties on this year’s list.

They’re all three years owing on their tax bills and whichever

ones aren’t paid up by Sept. 30 will go on the auction block

on that day at City Hall, 10 a.m. sharp.

Bidders are usually people with money to invest.

They get three per cent above the provincial prime rate,

which is currently at three per cent.

Tax Sale Properties in Kamloops-BC The interest rate is adjusted quarterly

. And, if by one year, the owner still hasn’t paid off the taxes owing,

the bidder will buy the property.

This year’s list of delinquent properties includes homes and businesses.

The amounts they owe are anywhere from $3,000 to $90,000.

Tax Sale Properties in Kamloops-BC Process 

The annual tax sale is held in the form of a public auction on the last Monday in September. It is a collection tool that enables municipalities to recover outstanding property taxes. Properties with three years of outstanding taxes are auctioned to the highest bidder.

Property owners have a one-year time period following the sale, in which the property can be redeemed. During that period, the property may be redeemed, by paying the outstanding charges and interest.

Tax Sale Properties in Kamloops-BC Tax Sale Information

The City is required by the Local Government Act to sell at Tax Sale all properties whose taxes have not been paid for 3 years. The Local Government Act gives the Collector authority to sell a property for the Upset Price which equals all outstanding taxes + penalties + interest + 5% tax sale costs + Land Title Office fees. All property sales are “as is” without warrant or guarantee by the City of Kamloops.

Tax Sale Properties in Kamloops-BC Advertising

The Local Government Act requires municipalities to advertise in a local paper not less than 3, or more than 10 days prior to the Tax Sale.
The legal description and street address must be published.
To avoid your property being listed in this ad in the newspaper, your delinquent taxes must be paid approximately 2 weeks prior to the Tax Sale date.

Tax Sale Properties in Kamloops-BC Tax Sale

A public auction will be held at 10:00 am, on the last Monday in September each year in Council Chambers, City Hall.
Bidding is accepted on all properties.
Prospective bidders are advised that it is their responsibility to search the title of the property in advance to determine if there are any charges registered against the property.
The minimum bid is the amount of the Upset Price.
If no bidding takes place within 3 calls by the Collector (auctioneer), the City is declared the purchaser at the Upset Price.

Purchasing Property

Full payment (by cash or cheque) must be remitted immediately. If a purchaser leaves the premises without paying, they may lose the property.
If payment is not remitted, the Collector again offers the property for sale.

Notifying Charge Holders

The Collector is required by law to search all property titles and within 90 days after Tax Sale notify all registered charge holders shown on each property.

Redemption

The original owner has one year after the property is sold at Tax Sale to pay the taxes and buy back their property. This is called redemption. All registered charge holders have full right to redeem the property.

To redeem the property, the charge holder must remit the full upset price, plus interest on the purchase price at a rate set by the Province, within one year of the Tax Sale.

If the property has been sold at Tax Sale and the City has been declared the purchaser, 50% of the upset price, plus interest may be paid as an instalment thus extending the redemption period by 11 months and 21 days. This applies only to property having improvements.

Once the property is redeemed, the City will refund to the tax sale purchaser the purchase price, plus interest, to the date of redemption. Please note, it may take two to three weeks before a refund cheque is issued to the tax sale purchaser. Interest on the purchase price is only paid up to the date of redemption.

Rights During Redemption Period

Section 421 of the Local Government Act provides that when real property is sold at Tax Sale, all rights held by the person who at the time of the sale was the owner, immediately cease to exist, except for the right of redemption, the right to bring an action to set aside the Tax Sale, and the right to possession.

The registered owner’s right of possession is subject to the purchaser’s right to bring action against the original property owner for waste (i.e. damage or destruction to the premises) and the right of the purchaser to enter onto the property to maintain it in the proper condition and to prevent waste. Damage, destruction or loss of property during the redemption period are at the risk of the purchaser. The purchaser is advised to insure his interest in the property.

Property Not Redeemed

If the property is not redeemed during the one year period, the Collector registers the new owner at the Kamloops Land Title and Survey Authority, thus cancelling all previous registered charges, except for those matters set out in Section 276(1)(c) to (g) of the Land Title Act and any lien of the Crown, an improvement district or a local district.

The new owners are required to pay the property sales tax to the Provincial Sales Tax Administrator after application has been made to register in the Land Titles Office.

 

Four properties sold for tax arrears by City of Windsor

Four properties sold for tax arrears by City of Windsor

Far below than assessment value

Four properties sold for tax arrears by City of Windsor on 23rdof July,2014.Professional real estate investors are flying in from across the Canada to buy the deals from Windsor-Ontario. Four properties get sold off after The Canadian property owners neglected to pay their municipal property taxes to the city of Windsor-Ontario.

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Tax Sale properties Grande Prairie-Alberta

Nov 27, 2015 Tax Sale properties Grande Prairie-Alberta

Notice is hereby given that under the provisions of the Municipal Government Act, the City of Grande Prairie will offer for sale, by public auction, in the First Floor Conference Room at City Hall, Grande Prairie, Alberta, on Friday, November 27, 2015, at 9:00 a.m., the following lands:Tax Sale properties Grande Prairie

 

Legal Description Address of Property

1061AE 26 25, 26 10130 – 105 Avenue

2032BQ 2 14 10425 – 102 Avenue

2839KS 18 16 9307 – 107 Avenue

3546KS 3 14 9802 – 95 Street

3634KS 10 46, 47 9813 – 111 Avenue

6966KS 5 3 10420 – 110 Avenue

5780MC 14 54 8618 – 99 Street

6041RS 10 40 9518 – 87 Avenue

3478TR 6 16 9837 Prairie Road

7521146 10 3 9645 – 77 Avenue

7622144 17 139 9414 – 78 Avenue

7823145 1 29 11918 – 98 Street

8923057 5 40 9135 – 105 Avenue

9421552 13 29 7822 Michaelis Blvd

9423773 15 22 10620 – 78 Avenue

9822216 4 11 6225 – 90 Street

9824455 3 16 10501 – 119 Avenue

0124876 9 113 11010 – 88A Street

0323781 59 55 9820 – 67 Avenue

0324691 6 45 13002 – 93 Street

0420906 10 5 17 Pinnacle Close

0420906 11 12 50 Pinnacle Crossing

0521784 12 40 12918 – 89A Street

0523796 11 60 8701 – 65 Avenue

0622699 2 33 7009 – 89 Street

0720778 2 76 8829 – 71 Avenue

0721709 8 23 11489 – 69 Avenue

0722113 2 51 10342 – 123 Avenue

0724434 85 302 9229 Lakeland Drive

0227569 102 329 10150 – 121 Avenue

0227569 111 344 10150 – 121 Avenue

0828220 88 421 9120 – 96 Avenue

Each parcel of land will be offered for sale subject to a reserve bid and to the reservations and conditions contained in the existing certificate of title.

The City of Grande Prairie may, after the public auction, become the owner of any parcel of land that is not sold at the public auction.

Terms: Cash

Redemption may be effected by payment of all arrears of taxes and costs at any time prior to the sale.

Dated at Grande Prairie, Alberta, September 4, 2015.

Scott Smith, Assessment & Tax Manager.

DISCLAIMER

We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal, accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.

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Tax Sale properties Grande Prairie

 

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