Annual Property Tax Sale
Any property with delinquent taxes will be sold at the City’s annual tax sale. The City is obliged to hold the annual tax sale each year. 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, interests and costs.
The list of the properties that may be available for sale will be published in the local newspaper 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. Research properties before you bid. The City is not responsible for the condition or quality of the properties being offered for sale.
The minimum bid is the amount of the Upset price. If no bidding takes place within three calls by the Collector (auctioneer), the City is declared the purchaser at the Upset price.
The highest bidder at or above the upset price shall be declared the purchaser. The purchaser must pay by certified cheque or bank draft. Bidders will be given until 2pm on September 26, 2022 to secure funds for the balance of the bid price. Upset price to be paid at time of tax 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 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 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 which may apply to the tax sale.
Time & Date:
10:00 am, Monday, September 26, 2022
City of New Westminster Council Chambers
511 Royal Avenue, New Westminster, BC
All bidders must:
- Pre-register between 8:35am - 9:55am at City Hall.
- Pay $175 non-refundable registration fee by cash or debit payment.
- Due to public safety measures, the City will limit the number to 24 participants only.
- Only registered bidders will be allowed into designated Council Chambers for the tax sale process. Friends or family of registered bidders are prohibited.
- Registered participants must be the age of majority, 19 or older, to register and will be required to show photo ID showing their legal name and their Social Insurance Number (SIN) when registering.
- Registered bidders must have in their possession certified funds of the upset price at the time of registration.