Wednesday, September 25, 2019

Prince Rupert's Property Bargain Hunters have a weekend of travel ahead, as City's Annual Tax Sale Nears

This last weekend of September will offer a chance for would be property speculators to scope out some local property set to be available at an upset price, as the City of Prince Rupert prepares to host its annual Notice of Tax Sale on September 30th.

The current owners have until the start of the Tax Sale on Monday to settle their accounts, otherwise the list of properties will be sold at a tax sale.

The Tax Sale process normally sees a reduction in the properties for review as we near the deadline, that as property owners take care of their delinquent taxes.

However some properties may remain on the list as the 10 AM Tax Sale starts on Monday morning at City Hall Chambers.

As of today, there are two vacant lots and twelve properties noted on the listings from the City of Prince Rupert website

For those looking towards the weekend and a tour of the city seeking out the properties,  all of the locations to be found east of the McBride street line dividing city from east to west.

You can also do some research through the BC assessment site where an address search will provide you with some notes and photos on the subject properties

Some notes on how the Tax Sale process from the City of Prince Rupert can be reviewed below:

The upset price is the minimum price acceptable and is the starting point for 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 is available at City Hall, Finance Department.

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 inquiries 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.

Purchasers should note that the TAX SALE is not final and that the purchase is subject to redemption by the owner up to September 30th, 2020.

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 the of redemption period.

The City's notice can be examined here.

Should you have any inquiries related to the process you can contact City Hall at 250-627-0964.

The District of Port Edward is also hosting a Tax Sale at 10AM on Monday at the Port Edward Council chamber, you can access more information on how many properties are available from the District office.

More items of note related to Taxation issues can be found from our Archive page here.

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