Thursday, September 20, 2018

City of Prince Rupert Tax Sale set for Monday September 24th

Only two properties remain on the City of Prince Rupert
Tax Notice list for 2018

Sharp eyed property investors have no doubt been keeping an eye on the City of Prince Rupert website the last few days, as the deadline towards this years Notice of Tax Sale draws closer.

Last week, the City provided for the date for this years sale of properties of owners that are delinquent in their payment of taxes since 2016, setting 10AM on Monday September 24th as the date for the Tax Sale at City Hall.

That is providing those owners of properties listed as delinquent had not taken measures to address their debt by that time.

The list started out with nine properties up for review, however as the last few days have moved forward that list of delinquent properties has been pared to but two opportunities.

One a property in the five hundred bloc of Seventh Avenue West, the other in the 200 block of 11th Avenue East.

The upset price is the starting point for bidding during the course of the sale, should it take place on Monday. The successful bidder  must pay by cash or certified cheque at the time of the purchase.

The two remaining listings left are:

0002433.000 -- 537 7th Avenue West  Upset Price -- $5,037.05
0009020.004 -- 234 11th Avenue East  Upset Price -- $4,458.80

You can review the BC Assessment information for the properties by clicking on the Green numbers above left.

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 24, 2019 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.

More notes related to the Tax Sale Process can be reviewed here.

Further items on Tax and Budget themes from the City of Prince Rupert can be explored from our archive page.

The city has an information sheet available at City Hall for those with an interest in the Tax Sale. Should you have any questions related to the Tax Sale process, you can contact Prince Rupert City Hall, the number for inquiries is 250-627-0964

Further items on  tax themes from the City of Prince Rupert can be explored from our archive page.

To return to the most recent blog posting of the day, click here.

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