Sunday, September 24, 2017

City of Prince Rupert Tax Sale set for Monday Morning

The annual sale of Properties as part of the City of Prince Rupert Tax Sale process takes place Monday morning at 10 AM in the chambers of the Third Avenue West City Hall building and the closer we have made it to the deadline seems to have spurred those that made the list to take action on their debt to the city.

On Wednesday, the Tax Property List numbered some 20 properties that were noted as still available, as we head towards the 10 AM Sale tomorrow there are but five properties remaining on that list for the auction.

Though this year, the number of respondents to the the Tax Sale Listing opportunities may be somewhat limited, especially when finding the information on the City website makes for a case of digging deep into the Financial section of that information source, with this years Tax Sale listings found here.

As of today -- one day before the Tax sale takes place, there has been no prominent Notice of the Tax Sale posted to the various online options that the city maintains.

Those portals range from the website, to a number of Facebook pages and twitter feeds that the City hosts, or those individual social media pages on civic notes hosted by our elected officials.

That lack of any expanded notice might make it hard for anyone in the community to know that the sale is taking place, let alone have the time to take the time to tour the city and view the available properties should they be interested.

Those that read the weekly paper from front to back would have found the listings this week, printed towards the back pages in among the employment ads, rentals and Legal Notices.

For those that may have already done their recycling for the week, the list of those properties and the background to the process as noted from the city website can be reviewed below:
(click on chart to enlarge)

What is known as the upset price is the minimum price that is acceptable and makes for the starting point in any bidding during the sale. The highest bid above the upset price will be accepted. The successful bidder must pay by cash or certified cheque at the time of purchase. An information sheet related to the Tax Sale is available from the Finance Department at City Hall.

As part of the Tax Sale process, the City's Financial Department makes note of the following advisories:

The municipality makes no representation express or implied as to the condition or quality of the properties being offered for sale. Prospective purchasers are urged to inspect the property and make all necessary inquires to municipal and other government departments, and in the case of strata lots to the strata corporation, to determine the existence of any bylaws, restrictions charges or other conditions which may affect the value or suitability of the property.

Even if the properties remain on the list for the day, it does not mean that the original owners will be losing their property immediately. Any purchase that is completed on Monday is not final, with the purchase subject to redemption by the original owner, who has until one year from this date, September 25, 2018 to resolve their issues with the City.

The purchase of a Tax Sale property is subject to real estate taxes under the Property Tax Act on the fair market value of the property at the end of the redemption period.

Should you have any questions related to the Tax Sale process, you can contact Rose Holkestad, at Prince Rupert City Hall, the number for inquiries is 250-627-0964

More items related to Taxes and other related issues at City Hall can be found on our archive pages.

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