Each year on the last Monday of September, the City of Prince Rupert holds a ‘tax sale’, or auction of properties with 3 years of unpaid property taxes. The tax sale is advertised in the local newspaper, and is open to all members of the public to attend and participate in the bidding process.
The current owners or registered charge holders of these properties have one year after the tax sale to redeem the property from the tax sale process. An original owner may ‘redeem’ the property by making a payment that rescues the property from the tax sale process. If a property is redeemed, the bidder will be refunded all monies paid, plus interest to the date of redemption.
If the property is not redeemed, the process of transferring the property's ownership to the new owner begins.