Revelstoke’s finance department is asking to defer this year’s property tax sale.
Normally hosted in September, the sale is an auction of properties that have delinquent taxes–taxes that remain unpaid for two years.
Due to COVID-19, the province is allowing municipalities to defer the annual property tax sale through a bylaw.
Sheena Moore, deputy director of finance, anticipates the department will be busy in September due to the extended property tax deadline.
READ MORE:City delaying tax deadline, expects to borrow $6 million to continue operations
Allowing another year will give staff time to work with property owners who are in delinquent status and reduce the number of properties that are subject to the 2021 sale.
“The finance department makes every attempt to contact property owners and mortgage providers to arrange for payment of delinquent property taxes before the tax sale date,” said Moore’s report to the city’s finance committee. “The goal is always to avoid selling properties at tax sales.”
Deferring the annual sale will also allow property owners who are currently in a delinquent balance one more year before their property is sold.
In 2021, properties that remain delinquent will be sold at tax sale. Property owners have one year to redeem their properties by paying the upset price plus interest on the sale price.
The upset price is the unpaid taxes, late penalties, interest as well as an administration fee.
On average, the city brings properties to tax sale every other year, the report said.
The city’s finance committee will discuss the proposal July 22 and make a recommendation to council.
@JDoll_Revy
jocelyn.doll@revelstokereview.com
Like us on Facebook and follow us on Twitter.