Looking to pick up a waterfront Osoyoos property on the cheap?
The Town of Osoyoos — on October 1 — might have one for you. But don’t bet on it.
The Town is listing a pair of waterfront Spartan Drive parcels as being subject to a tax sale September 30 unless “delinquent taxes, together with interest, are sooner paid.”
The sale comes pursuant to Section 645 of the Local Government Act, which requires municipalities like the Town of Osoyoos to “conduct the annual tax sale by offering for sale by public auction each parcel of real property on which taxes are delinquent.”
This year, said Jim Zakal, the Town’s Director of Finance, one property fits that description — a pair of parcels in the 9400 block of Spartan Drive with an assessed value of more than $1 million.
“We have one property in the Town of Osoyoos that is in a pending tax sale position,” he said in an email to OsoyoosToday. “If the delinquent taxes are not paid by September 30, at 10 a.m. this property . . . will be sold for tax sale.”
The sale, if it goes ahead — and that’s likely a stretch — will be conducted in Council Chambers.
The minimum purchase price — called the Upset Price — would be $27,475.45.
The Upset Price — according to the Local Government Act — “is the amount of delinquent taxes, taxes in arrears and interest to the first day of the tax sale for which the parcel of land and the improvements are liable for sale.”
It also includes taxes, including penalties incurred, for the current year on the land and improvements and other fees and surcharges.
The property was listed for sale as part of a three-parcel offer. However, the listing expired and only a single parcel is now still for sale.
The Town — which can bid on the property itself — urges prospective purchasers “to inspect the property and make all necessary inquiries to municipal and other government departments . . . to determine the existence of any bylaws, restrictions, charges or other conditions which may affect the value or suitability of the property.”
That bit of due diligence might be in vain, however.
Mr. Zakal says he can’t remember a property ever being sold at tax sale in the community — at least not over the last two decades.
“I am only aware of what has happened in Osoyoos for the last 19 years and to my knowledge there hasn’t been a tax sale that I am aware of,” he said.