Processing properties for Tax Sales:
Taxes must be in arrears for a minimum of two years before the property is registered for tax sale. It must pass through public process for one year before a public sale may occur.
During this process,
- Notices and declarations are prepared for final notice
- Advertising for the sale must be placed in the Ontario Gazette for one week
- Advertising in the local paper, The Stratford Beacon Herald, must be done for a period of four consecutive weeks
- After the four week advertisement, submissions are to be provided by public tender, to minimum bid
- If no one submits to the minimum bid, the City has the option to vest the property in its name
- If there is a successful purchaser, the sale is processed as a general real estate transaction to be closed 14 days after the tender opening