City council voted to start a tax sale process on a number of local properties for unpaid municipal taxes.
Over $440,000 is owed in back taxes on 30 properties in the Sault Ste. Marie area including the iconic downtown restaurant Muio’s at the corner of Queen and East Streets. The former eatery that closed in 2021 owes $35,883.70.
A house located on Sherborne Ave owes the most on the list at $44,643.
The process of the City getting their taxes is a long and complicated one, but is it a chance for others to get a steal of a deal ? Not really but not impossible.
“Once a property is in 3 years of arrears for property taxes, we prepare a report to City Council to approve the registration of Tax Arrears Certificates and proceed with a Tax Sale, as per the Municipal Tax Sales Act”said Lisa Petrocco, CPA, CGA, manager of Taxation.
“Once a Tax Arrears Certificate is registered with the property, there is a 365 day redemption period. Once this redemption period has expired, the City will conduct a Tax Sale by Public Tender for all remaining properties that remain unpaid.”
At that point, the City has forced a sale on the property with the hopes the property will garner a bid that will cover the costs of the taxes owed. “I wouldn’t assume that the minimum tender amount is below market value. Every property should be looked at individually.” Petrocco said.
“The City doesn’t take ownership of the properties.” Petrocco told FirstLocalNews. Interested parties submit sealed tenders, which are not opened until the Tax Sale.
The minimum tender amount that would be accepted is advertised and the tender amount must be equal to or greater than the minimum bid. The highest tender would be the successful bid and any proceeds over the minimum tender amount are submitted to the Superior Court. “Once the Superior Court receives the surplus funds, any interested party must apply to the courts to access these funds.” Petrocco said. If the property has a mortgage on it, the mortgage company could apply for the remaining funds.
Here’s the list of the 30 properties that owe a combined , $440, 867.04
THE FULL LIST OF PROPERTIES
1111 PARKDALE DR $18,592.70
2 124 EAST CHAMPAGNE DR $18,610.77
3 20 WOODLAWN AVE $ 20,233.86
4 433 ELIZABETH ST $9,785.11
5 140 WOODWARD AVE $ 8,750.57
6 15 LAURIER $9,719.08
7 701 QUEEN ST E PLAN $24,878.30
8 531 ALBERT ST E PLAN $29,699.58
9 685 QUEEN ST E $35,883.70
10 1280 THIRD LINE E $18,531.95
11 257 GLENGARY GATE CRES $38,893.53
12 160 KEHOE AVE PLAN $6,991.62
13 358 NORTH ST $11,966.30
14 441 CHARLES ST $9,018.87
15 315 HURON ST $4,880.51
16 9 RAILROAD AVE $8,127.98
17 209 GLOUCESTER ST $3,770.86
18 246 HURON ST $5,402.92
19 267 ST JAMES ST $5,125.41
20 633 QUEEN ST W $12,337.16
21 475 QUEEN ST W $6,188.22
22 583 SHERBOURNE ST $44,643.82
23 137 WALLACE TERR $6,960.24
24 500 WALLACE TERR $11,625.85
25 277 SIXTH AVE $8,066.06
26 435 FIRST AVE 363 $ 7,065.86
27 41 ALFRED ST $19,971.03
28 282 BORDEN AVE $13,833.33
29 791 SECOND LINE W $7,634.08
30 405 SUNNYSIDE BEACH RD $13,677.77
