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

Rockets continue road trip Wednesday night in Prince Geroge

Kelowna dropped game one of their four game road-trip on Saturday against Kamloops

Quails’ Gate Winery to celebrate 30 year anniversary

A limited amount of tickets are available for the event

Okanagan Marathon winner caps off impressive year with first-ever win at hometown race

Vik Bains celebrated his first-ever career win on his Kelowna home course on Oct. 20

Hundreds attend first annual climate and food conference in Kelowna

Over 25 industry experts spoke at the two-day event

Ladies in Kelowna aim to reduce their carbon footprint by shopping

The Great Closet cleanup happens twice annually

BC SPCA: From walking dogs to sponsoring galas

The Canadian Jewelry Exchange is a sponsor for this year’s gala

Horvat’s hat trick lifts Canucks to 5-2 win over Red Wings

First career three-goal game for Vancouver captain

Saanich Gulf-Islands’s Elizabeth May coy about leadership plans

The federal Green party leader talks possibility of running as MP without being leader

Estheticians can’t be forced to wax male genitals, B.C. tribunal rules

Langley transgender woman Jessica Yaniv was ordered to pay three salon owners $2,000 each

Two youth arrested in UBC carjacking at gunpoint, after being spotted in stolen Kia

‘A great deal of credit is due the alert person who called us,’ said North Vancouver Sgt. Peter DeVries

South Okanagan man charged following armed standoff gets bail

Information on the proceedings is limited due to publication ban

People’s Party of Canada’s anti-immigration views ‘didn’t resonate’ with voters: prof

Party was formed on anti-immigration, climate denying views in 2018

Windstorm knocks out power for 10,000 in north and central B.C.

Power slowly being restored, BC Hydro says

Behind the blue and white Carnival clown mask

Toshie Okada is named October’s Respect Works Here Community Champion

Most Read