The City of Calgary will be auctioning off properties with more than three years outstanding tax arrears. CREB®Now file photo
March 24, 2016 | CREBNow
City to hold property tax saleProperties in arrears up for grabs
The City of Calgary is hoping the prospect of having their home offered up to the highest bidder is enough to encourage a few Calgarians to catch up on their taxes.
Each year properties with more than three years outstanding tax arrears are offered for sale by the City of Calgary. Owners are notified a year in advance of the sale in hopes the owners will make an effort to catch up on any outstanding balance.
Currently, the list of properties stands at four pages, with properties deleted from the list as the outstanding taxes are paid.
This year's auction will take place April 14 at 10 a.m at the Calgary Power Reception Hall (700 Macleod Tr. S.E.). The 2016 property tax sale list contains properties offered for sale at the annual property tax sale and includes: civic address, roll number, legal description, outstanding taxes and conditions of sale.
The 2016 property tax sale list is updated weekdays by 10 a.m. (except holidays) as accounts are paid and removed from the list.
For those looking to purchase one of the properties on the list, the terms applicable to the sale of all improved properties are one-third cash or cheque at the date of sale and the balance of the payment within 30 days of the date of the sale. On all unimproved properties, the terms are one-third cash or cheque at the date of the sale or a minimum payment of $500.00, whichever is the greater, the balance due being payable within 60 days of the date of sale, with interest at prime plus one per cent per annum being in effect at the Royal Bank of Canada and calculated on the unpaid balance.