Nov 28, 2019 Ontario tax sale properties City of Toronto

[Navtaj Chandhoke]

City of Toronto to hold property sale to recover unpaid taxes

The City of Toronto is holding a Sale of Land by Public Tender, known as a property tax sale, as a final step in the collection of overdue, unpaid property taxes. Six properties with a combined total of more than $2.2 million in unpaid property taxes are up for sale. The bidding period to purchase these properties is until November 28.

Once a property has accumulated property tax arrears of two years or more, a Tax Arrears Certificate is registered against the title of the property, allowing the property to be put up for sale unless it is paid off. Typically, the properties that are chosen for sale have more than three years of arrears and are residential homes or land that is not occupied, where owners may be deceased or relocated, and next of kin cannot be found.

The six properties to be sold are:

The City makes every reasonable attempt to contact the property owner by mail, phone, site visits and speaking with neighbours to locate and inform the property owner before listing a property for sale.

The properties can be purchased by anyone, with the highest offer accepted by the City. Full payment must be made to the City within 14 days, and a tax deed for the property is prepared. The City keeps the money owed in back taxes and any other charges against the land or costs incurred related to the tax sale, and the balance is paid to the Ontario Court.

Tenders must be submitted in the prescribed form and be accompanied by a deposit of at least 20 per cent of the tender amount. For more information or to obtain a copy of the tender form, contact Nick Naddeo, Manager, Revenue Accounting and Collections, at 416-395-0014.

Toronto is Canada’s largest city, the fourth largest in North America, and home to a diverse population of more than 2.9 million people. It is a global centre for business, finance, arts and culture and is consistently ranked one of the world’s most livable cities. For information on non-emergency City services and programs, Toronto residents, businesses and visitors can visit toronto.ca, call 311, 24 hours a day, 7 days a week, or follow us on Twitter at twitter.com/cityoftoronto, on Instagram at instagram.com/cityofto or on Facebook at facebook.com/cityofto.

Ashley Hammill

Strategic Communications

416-392-6786

Ashley.Hammill@toronto.ca

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