It’s a peculiar and unpopular act of municipal government that happens every year, but rarely goes all the way.
Properties that are in arrears on their taxes can be sold at auction by the municipality during a tax sale and, in accordance with the Municipal Government Act, council must set a reserve bid before the auction goes ahead.
This year, four properties are eligible for tax sale in Foothills County. County council set the reserve bids during its meeting on Nov. 15.
One of the eligible homes, a 2,700-square-foot walk-out in the DeWinton area, has a reserve price of just over $2 million.
“Every year we have properties that are eligible for tax sale, although we haven’t sold any in the past few years,” said Reginald Hammond, Foothills County deputy director of corporate services.
Historically, the reserve price presented to council by County staff includes a 25 per cent increase above market value.
“This has been the standard over the years,” Hammond said.
The sale is scheduled for Dec. 6, unless the property owners settle up or make arrangements before then.
