Annual Property Tax Sale
The following notes are intended to provide a general outline of the tax sale process. For complete information, prospective purchasers should consult the Local Government Act, in particular (but not limited to) Sections 403 to 428.The Local Government Act is available online.
The Local Government Act requires the City to sell at Tax Sale all properties whose taxes have not been paid for 3 years.
The Local Government Act gives the City Collector authority to sell a property for the Upset Price which equals all outstanding taxes + penalties + interest + 5% tax sale costs + Land Title Office fees. All property sales are “as is” without warrant or guarantee by the City of Port Coquitlam.
- The Local Government Act requires municipalities to advertise in a local paper not less than 3, or more than 10 days, prior to the Tax Sale.
- The legal description and street address must be published.
- To prevent having your property listed in this newspaper ad, your delinquent taxes must be paid approximately 2 weeks prior to the Tax Sale date.
- Each year, a public auction will be held at 10:00 am, on the last Monday in September in Council Chambers, City Hall.
- Bidding is accepted on all properties.
- Prospective bidders are advised that it is their responsibility to search the title of the property in advance to determine if there are any charges registered against the property.
- The minimum bid is the amount of the Upset Price.
- If no bidding takes place within 3 calls by the Collector (auctioneer), the City is declared the purchaser at the Upset Price.
If payment is not remitted, the Collector again offers the property for sale.
Notifying Charge Holders
All registered charge holders have full right to redeem the property. To redeem the property, the charge holder must remit the full upset price, plus interest on the purchase price at a rate set by the Province, within one year of the Tax Sale.
If the property has been sold at Tax Sale and the City has been declared the purchaser, 50% of the upset price, plus interest may be paid as an installment thus extending the redemption period by 11 months and 21 days. This applies only to properties having improvements.
As soon as the property is redeemed, the Collector will refund to the Tax Sale purchaser the purchase price, plus interest to the date of redemption.
Rights During Redemption Period
The registered owner’s right of possession is subject to the purchaser’s right to bring action against the original property owner for waste (i.e. damage or destruction to the premises) and the right of the purchaser to enter onto the property to maintain it in the proper condition and to prevent waste.
Damage, destruction or loss of property during the redemption period are at the risk of the purchaser. The purchaser is advised to insure his interest in the property.
Property not Redeemed
The new owners are required to pay the property sales tax to the Provincial Sales Tax Administrator after application has been made to register in the Land Titles Office.
Brian North, Manager, Revenues and Collections
Port Coquitlam Tax Office
Location and Mailing Address
First Floor, City Hall
2580 Shaughnessy Street
Port Coquitlam BC V3C 2A8
Business Hours: 8:30 am to 4:30 pm, Monday to Friday (excluding statutory holidays)