Owner of most expensive home in the B.C. Interior avoids tax sale - InfoNews

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Owner of most expensive home in the B.C. Interior avoids tax sale

The owners of a Kelowna home forked over $21,127 to get it off the list of properties heading to a Sept. 30 tax sale. The house at 4358 Hobson Rd. was valued by B.C. Assessments at $10.6 million but as of Sept. 13, 2019, owed more than $161,000 in back taxes to the City of Kelowna.
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September 23, 2019 - 3:00 PM

KELOWNA - The owners of a Kelowna home forked over $21,127 to get it off the list of properties heading to a Sept. 30 tax sale.

The house at 4358 Hobson Rd. was valued by B.C. Assessments at $10.6 million but as of Sept. 13, owed more than $161,000 in back taxes to the City of Kelowna. However, only about $2,000 of those were considered delinquent so that was the minimum that had to be paid in advance of the sale. Instead, the owner paid a significantly larger amount.

The list of delinquent properties stretched to 57 on Sept. 13 but shrunk to 38 by the end of last week. It’s expected that most of those remaining will pay at least the delinquent portion of their taxes and drop off the list.

Of the properties still on the list, the most expensive is at 1046 Fuller Ave. It was valued at $1.55 million and owes $26,287 in back taxes but only $7,554 is considered delinquent. Those are unpaid taxes from 2017 so that’s all that needs to be paid in order for it to be pulled out of the tax sale.

Properties can be sold for the amount of property taxes owed only after three years of unpaid taxes. All that’s required is that the amount owning from three years ago (2017) is paid for the property to be pulled from this year’s tax sale.

Taxes that were not paid this year are called current, last year’s are referred to as in default, with the 2017 taxes are considered delinquent.

Even if a property goes to the tax sale, the owner still has another year's grace to pay off the delinquent portion before a new owner can take possession.

This $1.5 million Kelowna home could be bought for about $27,000 in unpaid taxes, if the owners don't pay up first.
This $1.5 million Kelowna home could be bought for about $27,000 in unpaid taxes, if the owners don't pay up first.
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