Princeton B.C. home sells for $3113

A family home in Princeton sold for less than the average price of a used car at the town’s annual tax sale.

A house on Similkameen Avenue, described by town finance director James Graham as “livable,” went for the minimum bid of $3,113.24 – the amount of outstanding property taxes.

The property’s owner has until September 2020 to pay three years of tax arrears, as well as penalties, interest, and administrative fees, in order to reverse the sale.

Under municipal resolution the town is allowed to bid up to 50 per cent of the assessed value of a property, at its own tax sale.

Graham said moving to purchase the property would not have been strategic.

“The town has the option of bidding on the property or not.”

The Town of Princeton did acquire a second property for sale, as there were no bidders. A parcel of land – approximately 1,000 square feet and located on the hill behind the Brown Bridge – has little value, said Graham, and it’s unlikely anyone could build on the land.

Graham stressed the municipality is not in the real estate business and does not want to be a property manager.

“The town works at managing the town.”

Graham said there are people who travel and attend tax sales – which are advertised – in hopes of getting a bargain.

To report a typo, email:
publisher@similkameenspotlight.com
.



andrea.demeer@similkameenspotlight.com

Like us on Facebook and follow us on Twitter.

Just Posted

Okanagan inmate charged in Princeton kidnapping gets second trial extension

Afshin Maleki Ighani said he was unprepared for trial due to issues around a full disclosure package

Today’s the day! Get out and vote Princeton

The Princeton Legion, the only local polling station, is a busy place… Continue reading

Ranchers help grow PRH

Ranching family’s roots recognized through PRH donation

Few incidents reported at Princeton’s Ridgewood Lodge

Few incidents were reported last year at Princeton’s long term care facility… Continue reading

Roads contractor waits for snow removal equipment as winter looms

The newly-hired highway maintenance company serving the region is hitting some bumps… Continue reading

Election 2019: Robert Mellalieu — Green Party candidate for Central Okanagan-Similkameen-Nicola

Robert Mellalieu is running for the Green Party in Central Okanagan-Similkameen-Nicola

Second young woman dies after rollover crash near Williams Lake

‘Someone’s going to get her heart, which is awesome, because she has the best heart in the world’

Google searches for ‘how to vote’ surge on Election Day

Interest spikes despite social media campaign by Elections Canada

Troll Grandfather bridges gap in Okanagan

Spotlight Kids’ Series show comes to Vernon Sunday

Kelowna council opposes ‘racist’ Quebec secularism bill

The city joins Calgary, Montreal, Victoria, Kitchener and Brampton in condemning the bill

Alberta man pleads guilty, fined for hunting without a licence in North Island

It’s the responsibility of each hunter or angler to know whether they are considered a B.C. Resident.

Sentencing date set for former West Kelowna teacher charged with child luring

Former Mount Boucherie teacher Bradley Furman will be sentenced on Dec. 16

New trial ordered for Salmon Arm optician convicted of sexually assaulting 14-year-old boy

Kenneth Pilkington was ininitally found guilty of the offense

B.C. mayor apologizes for removal of Queen’s portrait from council chambers

‘I prefer to be inclusive of the many aspects of our history’

Most Read