Ontario Tax Sale Property Forum

Tax Sale Forum => General => Topic started by: ErnestBidder on June 08, 2023, 01:53:31 AM

Title: minimum bid set much higher than assessed value
Post by: ErnestBidder on June 08, 2023, 01:53:31 AM

  Can anyone inform me as to the legality of a municipality posting a tax sale property that  is assessed at, say, $12,880.63, and setting the minimum bid at $190,000? Are they allowed, or required, to set the bid at, or near, current market value?

Title: Re: minimum bid set much higher than assessed value
Post by: mountainman on June 12, 2023, 04:44:51 PM

Quote from: ErnestBidder on June 08, 2023, 01:53:31 AM

  Can anyone inform me as to the legality of a municipality posting a tax sale property that  is assessed at, say, $12,880.63, and setting the minimum bid at $190,000? Are they allowed, or required, to set the bid at, or near, current market value?

I am Mountainman

Greetings my friend Ernie

While the rules may seem screwy,

The municipality can collect all arrears

Including amounts added over the years.

For i am Mountainman