Comment 33702

By frank (registered) | Posted September 16, 2009 at 16:03:08

Nope, I'll actually cut and paste the answer I received from Chad Collins regarding the issue:

"Hi Frank, Provincial legislation dictates that property owners (residential, commercial, farm, industrial, etc.) can fall into arrears for a period of three years. After 3 years, the City has the option of placing a lien on the property. The owners then have one year to pay the amount in full (or establish a repayment plan). If a year lapses after the lien is applied, the City can advertise the property for sale under the tax arrears process. In this instance, the properties that were over the 3 year timeline have had liens placed on them, with the applicable charges applied to their tax account(s), almost $900 per lien.

Further, those in arrears are subject to paying 15% per annum on overdue accounts. Unfortunately, much of this information does not make its way into the newspaper and may lead one to believe that the owners are taking advantage of the situation.

Chad."

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