Springhill tax sale biggest yet for Cumberland County
It’s expected that more than 60 Springhill properties will be up for tax sale Tuesday morning.
“This will be the first time we’ve had a tax sale for the former town of Springhill,” said Andrew MacDonald, Director of Finance and Administration with the Municipality of Cumberland County.
It is the biggest tax sale auction ever held by the municipality.
Another big sale was Nov. 1, 2017, when close to 40 properties were up for grabs.
“Council chambers was quite full. We were bringing in more chairs,” said MacDonald.
The Springhill listings include redeemable and non-redeemable purchases.
“If the property is redeemable, then the current assessed owner has a six-month time frame to come back and redeem their property,” said county revenue officer Jennifer Moore. “They would have to pay what was outstanding on the account, and there would be an interest calculation with
that purchase price.”
If the property is non-redeemable then the county would be able to get a certificate of sale and a deed prepared right away.
About one-third of the properties on the list are redeemable.
The Municipal Government Act decides what is redeemable and
“If there is more than six years of property taxes outstanding on an account, then that property is no longer redeemable,” said Moore. “Basically, if you have seven years outstanding taxes the legistlation says that you’re not coming back to get your property.”
Properties are eligible to be put up for sale after a person has not paid their taxes for about two years.
“The legislation allows that if your 2017 taxes are outstanding as of July 1, 2018, it’s eligible to be put on a preliminary tax sale list, so the process would start,” said Moore. “If you have two years of taxes outstanding we can start the process, and the process takes about six months, sometimes a little longer, sometimes quicker.”
If past tax sales in the county are any indication, properties that are sold usually go for the asking price, but waterfront properties and properties in Wentworth often go for higher than the asking price.
“With Springhill, I don’t have anything to go on,” said Moore, adding it will be interesting to see how things go on Tuesday.
People interested in purchasing a property will have to pay the balance by the end of Tuesday or, if the property goes for more than the asking price, then the balance above the asking price will have to be paid by the end of Friday.
“If it was advertised for $5,000 and it sold for $10,000, they have three business days to pay the surplus amount,” said MacDonald. “So, $5,000 would be due on the day of the sale, and any surplus over and above the original price would be paid within three business days.”
These council chambers at the E.D. Fullerton Municipal Building in Upper Nappan will likely be filled with people looking to purchase property in Springhill Tuesday morning at 10 a.m. More than 60 items are up for tax sale and the public auction could...