Tax Sale Results – March 28, 2023

Posted on:
April 5, 2023

Victoria County’s most recent tax sale was held on March 28 at the Inverary Resort’s MacAulay Conference Centre. There were 8 properties sold out of 10 properties remaining at the public auction style sale. The proceeds of the sale resulted in the collection of $44,852 in outstanding tax arrears and interest.

The money received from the public auction first pays taxes, interest and expenses owing on the accounts of the properties sold. Any amount over this is considered surplus and, as per section 147 (5) of the Municipal Government Act, the surplus remains in a ‘tax sale surplus account’ for twenty years after the sale. After that, the municipality transfers the surplus to its capital reserve fund which can only be used for capital expenditures.

Detailed tax sale results are available here.

TAX SALE NUMBERS:

• 9 property owners paid taxes prior to sale
• 5 properties were deferred prior to the sale
• 10 properties available for bid by public auction
• 8 properties were sold and balances owing were paid within 3 days as required
• $2,100 to $58,500 range of successful bids
• $44,852 collected in outstanding tax arrears and interest
• $187,948 surplus collected