A rush of errant taxpayers to town hall in the past week left the municipality with just one property to auction off at its annual tax sale Monday.
Three potential bidders attended the auction, but no one bid on 631 Similkameen Avenue.
According to Lyle Thomas, town spokesperson, the municipality now acquires the property. The original owner can reclaim the property at anytime in the next 12 months if the taxes and other fees are paid.
“We’re hopeful that people will come in and redeem their property but if they don’t then we will deal with it,” he said.
Thomas said typically having a property listed for a tax sale is an incentive for owners to pay their bills.
“That’s not unusual. People get behind and once they see that it’s up for auction people come in and make good on their properties.”
At a council meeting last week a resolution passed to allow the municipality to bid at its own auction up to 50 per cent of the assessed value.
In previous years the town had the option of bidding up to 100 per cent.
Mayor Frank Armitage said the change in policy reflects the town’s desire to exercise more discretion when acquiring property through default.