Notice of Property Tax Sale
PROPERTY TAX SALE
Monday, September 26th, 2016 at 10:00 am
Municipal Hall, Council Chambers (upstairs), 13211 Henry Ave, Summerland BC
Each year, on the last Monday of September, municipalities are required to have a tax sale of all properties with three years of outstanding taxes. The addresses and upset prices (minimum amount required) will be listed on our website and in the local paper by the middle of September. These properties may be withdrawn from Tax Sale upon payment of delinquent taxes, plus interest to the date of payment. Please note that delinquent taxes must be paid at Municipal Hall by cash, certified cheque or money order prior to the tax sale for the property to be removed.
Those who are interested in bidding must come to the Tax Sale and bring a certified cheque, cash or bank draft, equal to the upset price. The highest bidder at or above the upset price shall be declared the Purchaser. If the bid goes above the upset price, the Purchaser will have an opportunity to bring in the additional funds that morning. Failure to pay the balance immediately by the highest bidder after the tax sale, will result in the property being offered for sale at 10:00 am on the following day.The new Purchaser has no legal rights to the property until one year from the date of the sale. If successful, the property will then be transferred to the Purchaser and applicable sales taxes and transfer taxes will be due. If within the year, payment of the delinquent taxes plus interest and penalties are made by the owner, the property is removed from the tax sale. The bid amount plus interest for the time their money was held (at a rate set by the Province) will be returned to the Purchaser (bidder).
If there is no bidder on a property, the municipality is declared the Purchaser. Please call the Tax Department at 250-494-6451 or by e-mail at email@example.com, if you have any questions.
Notice is hereby given that the under mentioned properties, on which there are unpaid delinquent taxes may be sold at the PROPERTY TAX SALE to be held under provisions of sections 403 of the Local Government Act. The Tax Sale will be conducted in the Council Chamber of the District of Summerland, 13211 Henry Avenue, Monday, September 26th, 2016 at 10:00 am At the time of the Bid, successful bidders are required to deposit cash, certified cheque or bank draft with the collector, to an amount equal to the upset price of the property offered for sale.
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The Upset Price includes:
- Delinquent and arrears taxes plus interest to date of sale
- Current Year taxes plus penalties
- The sum of 5% of the foregoing amounts
- Land Title Offices registration fees
The highest bidder at or above the upset price shall be declared the purchaser. If no bids are received the District will be declared the purchaser. The purchaser has no legal rights to the property until one year has expired from the date of the sale.
Title to property not redeemed within one year from the date of the tax sale will be transferred to the purchaser on receipt of Land Title Act fee. If a purchaser is successful at the Tax Sale, at the end of the one year redemption period, the property is to be transferred into his or her name and she or he will be required to pay the property purchase sales tax on the Fair Market Value of the property in accordance with Property Purchase Tax Act.