With tax sale looming, reprieve granted to pay outstanding
A New Tecumseth ratepayer facing seizure and sale for property taxes in
arrears on Sept. 14, has been approved for an extension to Oct. 31.
It's the remaining one of 10 properties that were moving through the
tax sale process that hadn't come up with a payment plan.
That changed on Sept. 5th, according to a finance department report to
council, after the Town was contacted by "legal representatives of the
land owners" with a proposal to pay off the outstanding amount. The
name, amount owing, and terms of the agreement are confidential and
were not released.
"Finance staff are satisfied with the payment plan that has been
proposed," according to the report. "The cancellation price including
all outstanding taxes, penalties, interest and applicable fees and
charges will be fully paid by Oct. 31, 2013." Penalties and interest
continue to accrue until cleared up.
The most recent update, as of June 30, 2013, there were 89 properties
in New Tecumseth eligible for tax sale amounting to approximately $1.55
million in tax arrears - 77 are residential owing $1.158 million. And
that's up from 65 with an overdue balance of $1.25 million at Dec. 31,
2012. Of the 89 current, 29 qualify to move to tax sale status, but the
Town has targetted the "largest and most cumbersome accounts."