Toronto is selling 22 properties after their owners failed to pay taxes
The City of Toronto says it’s selling off several properties to the public after their owners failed to pay their taxes.
Twenty-two properties will be up for sale, the city announced in a news release, in order to recover the unpaid taxes worth a combined total of more than $21.1 million.
The city said the “property tax sale” is usually the final step in the collection of overdue, unpaid property taxes.
“Once a property has accumulated property tax arrears of two years or more, a Tax Arrears Certificate is registered against the title of the property,” the city said.
“This allows the property to be put up for sale one year after the registration of the certificate, unless it is paid off in full by the owner or another interested party, such as a lien or mortgage holder.”
Typically, the city added, these properties have large outstanding arrears, and the sites may not be occupied because the owners may have died or relocated and the next of kin cannot be found.
“The city makes every reasonable attempt to contact the property owner by mail, telephone, site visits and speaking with neighbours to locate and inform the property owner before listing a property for sale,” the city said.
“If a property owner pays their outstanding taxes before the last day of the tax sale on June 29, they will be able to retain their property.”
Most of the properties are vacant commercial places. Several of which are located in Toronto’s Chinatown on Spadina Avenue. One property for sale is residential, and occupied by the Toronto Community and Culture Centre.
Properties can be purchased by anyone with a bid that meets or exceeds the minimum tender amount. The bidding period to purchase these properties is open until June 29.
“Properties are purchased in ‘as is condition’ – bidders are strongly advised to seek legal counsel before submitting a bid or taking ownership of a property,” the city stated on Wednesday.
“New property owners become responsible for any existing liens or other claims on title, or any remediation that may be necessary.”
The city stated that people interested in submitting a bid on the properties can pick up a tender package at the revenue services inquiry and payment counter at North York Civic Centre between Monday to Friday, from 8:30 a.m. to 4 p.m., for a cost of $38.57.
Here’s a full list of what’s available:
- 440 Birchmount Rd., $954,486.99 – industrial and vacant land
- 2627 Eglinton Ave. E., $957,661.58 97 – commercial/residential and boarded up
- Manville Rd., $2,803,178.30 – industrial and tenanted
- 99 Toryork Dr., $5,757,232.03 – commercial and tenanted
- 222 Spadina Ave., LL, $873,337.45 – commercial and vacant
- 222 Spadina Ave. #16,$2,081,430.51 – commercial and vacant
- 222 Spadina Ave. #9, $35,992.57 – commercial and vacant
- 222 Spadina Ave. #11, $89,858.00 – commercial and vacant
- 222 Spadina Ave. #19, $2,199,319.36 2 – commercial and vacant
- 221 Spadina Ave. #20–22, $1,133,435.47 – commercial and vacant
- 222 Spadina Ave. #23–25, $2,397,177.40 – commercial and vacant
- 222 Spadina Ave. #28, $66,035.42 – commercial and vacant
- 222 Spadina Ave. #30, $214,381.48 – commercial and vacant
- 222 Spadina Ave. #31, $145,251.95 – commercial and vacant
- 222 Spadina Ave. #32, $194,428.43 – commercial and vacant
- 222 Spadina Ave. #33, $57,720.14 – commercial and vacant
- 222 Spadina Ave. #34, $99,092.60 – commercial and vacant
- 222 Spadina Ave. #35, $72,686.57 – commercial and vacant
- 222 Spadina Ave. #36, $57,506.50 – commercial and vacant
- 222 Spadina Ave. #215, $738,542.95 – commercial and vacant
- 222 Spadina Ave. #217, $357,182.88 – residential and occupied by Toronto Community & Culture Centre
- 222 Spadina Ave. #242, $94,142.15 – commercial and vacant
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