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If property taxes remain unpaid for a specific period of time, the Municipal Act, 2001 governs the circumstances under which the property may be sold by the City of Mississauga ("City"). The City may register a Tax Arrears Certificate against title if property taxes remain unpaid for the three years prior to January 1 of any year. These time lines apply to both residential and non-residential classes of property. A Tax Arrears Certificate indicates that the property will be sold if the "Cancellation Price" is not paid within one year of registration of the certificate. Once a certificate has been registered, partial payments cannot be accepted unless the owner has entered into an extension agreement with the City before the expiry of the one-year period. The City may advertise the property for sale for non-payment of taxes if the "Cancellation Price" is not paid within one year of registration of the certificate. Advertisements are generally published in the Mississauga News for four consecutive weeks and the Ontario Gazette for one week. Tender packages may be purchased online or at the City. For legislation governing the tax sale process, including definitions, please refer to the Municipal Act, 2001, S.O. 2001, c.25, including Ontario Regulation 181/03. Tax sales are not typical real estate transactions. If you are considering participating in a tax sale, it is highly recommended that you seek independent legal advice from a lawyer licensed to practice in Ontario and in good standing with the Law Society of Upper Canada. There are currently no properties for tax sale. |