Finance & Corporate Services
Notice of Property Tax Sale
2011 PROPERTY TAX SALE
Notice is hereby given that the under mentioned properties, on which there are
unpaid delinquent taxes may be sold at the 2011 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 Ave , at 10:00 A.M. on Monday, September 26th,
2011.
At the time of the Bid, successful bidders are required to deposit cash,
certified cheque or money order with the collector, to an amount equal to the
upset price of the property offered for sale.
These properties may be withdrawn from Tax Sale upon payment of delinquent
taxes, plus interest from January 1st 2011 to the date of payment. As of Monday
September 19th, 2011 the payment must be by cash, certified cheque or
money order and must be received at Municipal Hall prior to 9:00 A.M. Monday
September 26th, 2011.
If a purchaser is successful and at the end of the redemption period the
property is to be transferred into his or her name, then she or he will be
required to pay sales tax on the Fair Market Value of the property in
accordance with Property Purchase Tax Act.
The Upset Price includes:
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Delinquent and arrears taxes plus interest to date of sale
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Current Year taxes plus penalties
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The sum of 5% of the foregoing amounts;
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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.
At redemption, the purchaser is paid back their bid plus interest accrued from
the date of the Tax 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.
The purchaser will be responsible to pay the Property Purchase tax on the fair
market value of the property at the time of the transfer of the title.
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