Yukon Weekly

B.C. city council will compensate the homeowner for equity loss, tax sale

B.C. city council will partially reimburse homeowner for tax sale, equity loss

Key Takeaway:

  • The mayor and the council of Penticton, B.C., offered an apology and voted to reimburse a woman almost $141,000 after the city sold her home well below assessed value to take a $10,000 property tax bill.
  • The city called a special meeting on Tuesday to discuss last week’s recommendations in a report from the provincial ombudsperson. 

The mayor and the council of Penticton, B.C., offered an apology and voted to reimburse a woman almost $141,000 after the city sold her home well below assessed value to take a $10,000 property tax bill.

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B.C. city council will compensate the homeowner for equity loss. Image: ourcommunitynow

The city called a special council meeting on Tuesday to discuss last week’s recommendations in a report from the provincial ombudsperson. 

In a statement, Mayor John Vassilaki says the home was sold in an “unfortunate set of circumstances” that occurred because of provincial legislation.

He says the city acknowledges its part in the incident and is committed to improving provincial legislation, but it was “disappointed” in the adviser’s conduct and report.

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Jay Chalke’s report stated the 60-year-old woman had the money to cover the tax bill, but her challenges made it difficult to pay, and the city sold her home for $150,000, even though its assessed value was $420,000.

Chalke released a statement on Tuesday saying he was pleased the council accepted his recommendation to repay the woman, and the outcome “clearly demonstrates that it’s never too late to do the right thing.”

Chalke’s report stated the results of his investigation into the case were “disturbing,” and it called for significant changes in the way municipalities in B.C. use such sales to collect outstanding property taxes.

His report suggested the city compensate the woman for $140,922, representing about half of her lost equity. 

This was the amount that the council approved on Tuesday. 

Source-CTV News

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