Tax Sales.
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I'd like to talk a little bit about tax sales. I often get people who call me after looking at my Ottawa House Repossession report and ask me if there are any tax sales. These are properties that are seized due to unpaid municipal taxes. The answer is no - in part because the City Of Ottawa does not sell these properties through realtors but mostly because there are no tax sales in the Ottawa area that I am aware of.
The reason is that the average tax bill in the City Of Ottawa might be $3500 a year. Since the average property is worth $375 000 its extremely unlikely that anyone would allow the City Of Ottawa to take their property back for not paying taxes. Then of course its probable that if you are not paying taxes that you are not paying your mortgage either and your lender will be taking the property back before the city will take it. |