Tax Sales

Solutions

Tax Sales in Canada

A tax sale in Canada occurs when a property owner falls behind on paying property taxes. After a specified period, the municipality takes legal action to recover the owed taxes. If the taxes remain unpaid, the municipality can sell the property at a tax sale auction, often selling it “as-is” and typically for less than market value. This process varies by province and is generally considered a last resort for municipalities to recoup unpaid taxes.

What to do when facing a power of sale

Communicate with the Municipality:

Contact your local tax office to discuss your situation.
Inquire about any possible payment plans or options to settle your debt.

Explore Financing Options:

Look into personal loans, home equity loans, or lines of credit to pay off the outstanding tax debt.
If you have equity in your home, refinancing your mortgage could help you consolidate debt and pay off the overdue taxes.
Check if you qualify for any government assistance programs or grants aimed at helping homeowners in financial distress.

Sell the Property:

If you can’t keep up with the payments, consider selling your property before a tax sale occurs.
Work with a real estate agent to assess your property’s market value and list it for sale as soon as possible.

Taking Action

If you’re facing the possibility of a tax sale, know that you don’t have to navigate this challenging time alone. To explore assistance options available to you and take proactive steps to protect your home or property, contact us today. Immediate actions could make all the difference in finding a path forward, and we’re here to help every step of the way.

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