Helter Shelter: delinquent properties up for sale
If you’re in the market for a cheap property, or if you haven’t paid your municipal taxes for several years, the time to act is now. On Monday September 27th the City of Rossland will be holding its annual public auction tax sale at 10:00 AM in City Hall’s council chambers. This year there are eight properties on the sale list.
As required under the provincial Community Charter Act, municipalities in BC must offer up for auction any properties whose owners have been delinquent in paying municipal property taxes for the preceding three years.
As much an extra motivator for property owners to catch up on back taxes as it is a sale, owners have the opportunity to pay their 2008 taxes plus interest before the auction to retain the deed to their property. If those taxes are not paid prior to the auction, the bidding on each property will start at the amount of taxes owed (Upset price), potentially opening up the opportunity to purchase properties well below market value.
There are a number of caveats on the sale of the properties in question, however. If no bid is placed, the owners have one year to repay the delinquent taxes plus interest. If the taxes are not repaid within one year, ownership of the deed reverts back to the City.
If winning bids are placed on a tax sale property, the winning bidder must pay the full amount in cash by 3:00 PM on the day of the auction. Should the winning bidder pay in full, in cash, the original owner still has one year in which to pay their outstanding balance. In that case, the city refunds the winning bidder and the property stays the possession of its original owner. If, after that one year period, the taxes remain unpaid, then the city transfers possession back to the winning bidder.
Properties up for auction this year are:
- 1722 Leroi Avenue – Upset price: $11,669.77
- #1-2044 Washington Street -Upset price: $10,414.29
- #2-2044 Washington Street – Upset price: $12,489.90
- 2196 Columbia Avenue – Upset price: $11,844.23
- Lots 16-17-18 , 2129-2127 Columbia Avenue Upset price: $27,771.16
- Lot 2, Township 28, Kootenay District 88 Creekside – Upset price: $39,267.80
- Lot A, Township 28, Kootenay District 88 Creekside – Upset price: $21,565.90
- Strata Lot 9, Township 28, Kootenay District Strata C 1002 Creekside Terrace – Upset price: $16,950.72