Forty-one properties, including homes, a bowling alley and commercial land, will potentially be up for auction at city hall on Monday.
If a property owner doesn’t pay their property taxes for three years, the City of Prince George can seize their property and sell it at auction to recover the unpaid taxes and penalties.
This year, 41 properties owing between $95,057.28 and $1,060.44 are listed for auction in the city’s tax sale, happening at city hall at 10 a.m. on Monday. The city is seeking to recoup nearly $567,895 in unpaid taxes from the 41 property owners.
The property owners have until that time to pay their back taxes to prevent their property from being auctioned off. In an email, a spokesperson for the City of Prince George said typically only a dozen properties each year end up on the auction block.
Bidding on each property starts at an upset price equal to amount owed to the city in taxes, interest and penalties as of Sept. 26, and all the fees required by the land title office.
After the auction, the original property owner still has one year to redeem the property and retain ownership. If the property has not been redeemed after one year, then ownership transfers to the winning bidder.
Winning bidders are required to pay the city immediately.
A complete list of the properties listed for auction by the city is available on the city’s website.
