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Annual Tax Sale

The annual tax sale is held the last Monday in September of each year.  Properties with delinquent taxes (taxes unpaid at the end of three years) will be sold at the City of Powell River's annual tax sale.

The sale is a public auction with the sucessful bid being the highest bid above the upset price.  The upset price is the total of:

  1. the amount of delinquent taxes, taxes in arrears and interest to the first day of the tax sale for which the parcel of land and the improvements are liable for sale;
  2. the taxes, including penalties incurred, for the current year on the land and improvements;
  3. 5% of the amounts under paragraph (1) and (2); and
  4. the fees prescribed under the Land Title Act. 

If there are no bids, the City of Powell River will be declared the purchaser.

Should a property be sold at tax sale, the registered owner, the owner of a registered charge or agents thereof, has twelve (12) months to redeem the property by remitting to the City of Powell River the selling price of the property at the time of the tax sale and interest to the date of redemption on any amount in excess of the upset price.  The City of Powell River shall then return to the successful bidder the amount paid with interest at the rate prescribed by the Province of British Columbia.

Should the property not be redeemed within the one year period, the title shall transfer to the successful bidder.  The successful purchaser of a tax sale property that results in transfer of title at the end of the redemption period will be required to pay any property purchase taxes and goods and service taxes which may apply to the sale.

For further information contact the Financial Services Department

City of Powell River Notice of Tax Sale 2016

 

 

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