There are currently 30 properties in various areas of the city on the sale list, but that could change, as owners have until the day of the sale to pay their taxes and have the property removed.
Bidding on each property starts at the “upset price” which is the combined total of three years of back taxes, interest and administration fees. The former owner has a one year redemption period in which they can pay back all taxes and get their property back, but after a year if that hasn’t happened, the property title is transferred to whoever the highest bidder was. In the case that the owner does pay their owed taxes, the bidder gets their money back, plus interest.
Any successful bidder on a property will have to immediately pay the city the amount bid by cash, Interac, money order or certified cheque by 3 p.m. that day. Any property not paid for will be auctioned off again the next day.