Any property with delinquent taxes will be sold at the City's annual tax sale unless the delinquent taxes, with interest, are sooner paid. The City is obliged to hold the annual tax sale each year on the last Monday of September (or if this is a holiday, on the next Monday which is not a holiday). It is held at 10:00 am at City Hall located at 511 Royal Avenue, New Westminster, BC. Taxes become delinquent on January 1st of the second year following the year in which the taxes were billed.
The list of properties that may be available for sale will be published in the local newspapers on two separate dates, the last publication being not less than three days or more than ten days before the date of the tax sale. A final list of the properties still available for sale will be distributed at the time of the tax sale.
The sale is a public auction with the successful bid being the highest bid above the upset price. The upset price is the total of all outstanding taxes plus penalties, interest and costs.
We will require payment of the full amount of the successful bid price by certified cheque, cash or money order at the time of sale.
The owner of the property, or any registered charge holder, will be notified of the sale of the property for taxes. They have a period of 12 months to redeem the property by paying the outstanding taxes. Only at the end of the redemption period, if the property has not been redeemed will title pass to the successful bidder. If the property is redeemed, all of the amounts paid to the City by the successful bidder will be returned with interest at the rate prescribed under section 11(3) of the Taxation (Rural Area) Act.
The successful bidder has only limited legal rights to the property during the redemption period. The registered owner continues to have use and enjoyment of the property.
The successful purchaser of 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 services taxes which may apply to the sale. The effect of the tax sale is to also act as a quit claim in favour of the purchaser of all mortgages registered against the property.