Remember when the imposition of the 52% tax penalty was going to be the lever that would push all those nasty people in the Crowsnest Pass that were delinquent on their taxes to pay up.
Well if you think it worked check out the Alberta Gazette at http://www.qp.alberta.ca/documents/gazette/2012/pdf/16_Aug31_Part1.pdf pages 1017-1028 there are 294 properties available.
14 comments:
Well, I think most of those properties at 1 time must have belonged to Bridgecreek.I think council seen this coming and that is why they raised the penalty to either maximize the tax dollars or to have the land revert back to them.
I wonder what the reserve bid on these lots will be? If it is high then I think council wants that land.
Any Bridgecreek investors have anything to say.
Yes, it sounded like there were only 2 people requesting leniency. So, don't think Bridgecreek land is too bad on these books.
Dean do you think anybody will bid on these? Do you think there is a deal in place to flip them to another developer once the municipality takes possession? Finally anything new on the CLC site?
Jack
Jack
In answer to your questions, personally I do not believe anybody will bid on these lots.
A deal with a developer, who knows that's a large area for one company to take on. Unless they have really deep pockets. The east end has close proximity to water and sewer you could probably put 20-30 units there without too much difficultly.
"If" there is a deal in place for anything on that property that is where I could see it being.
CLC site the last couple of nights it feels like it could snow at any time.
"I do not believe anybody will bid on these lots"
Some people were persuaded they were worth $400,000. Now you can pick them up at tax sale for $5000. What a steal!!!
Well lets see what these lots might be worth. There is no access , there are no services(water,sewer,power,gas, cable,phone), there are no roads,curb and gutter, and they have environmental issues.I do not think these lots would be worth the back taxes owing.My best guess to taxes owing would be based on the following. 500$ minimum tax plus 21% penalty the first year, plus 21 % penalty the second year, plus 52% peanalty the third year.Total equals 1112.71$
Note to Council..
If anyone is trying to do anything "fishy" with regard to the Bridgecreek land (that we have
1st mortgage on), take great care..The RCMP is looking at this whole scam with the greatest of attention.
Do not try to re-victimize the people who were hurt by this...Bradley and Becker are still rich. The victims have lost everything.One lawsuit in town is enough..right?
...a Bridgecreek investor
The media have also been contacted, just in case the Council try to pull the rug from under the investors feet (again). For now I will assume this whole procedure is in the best interest of the municipality AND the stakeholders (Becker and Bradley's victims). Thank You
Question for Bridgecreek Investors?
What is the amount owing individually on these lots? Surely, they can't be only 1112.71$ as someone in a previous comment suggested?
Amount owing? Are you talking back taxes, or amount owed to investors from Bridgecreek? The amount owed to victims is in the 50-60 million dollar range for RIVERRUN alone...the amount owing from backtaxes i am not sure of..something along the lines of $150,000 for just 67 of the lots..there are something like 300 lots in total..
9:12
Amount owing in back taxes for an individual lot, not as a whole.
According to your calculations its approx. $2,238 ($150,000/67) for 3 years in back taxes plus penalties. If that is correct, I find this hard to believe, considering what some of these individual lots list/sold prices were and must have been assessed at, plus the high compound interest in late penalties.
10:09
Prior to any development the lots would be assessed as bare unserviced land, about $5000 each IIRC.
To the Bridgecreek investors, If you have 1 mortgage position are you not responsable for the property taxes?
no, the criminal owners of the land are responsible for the taxes..We got screwed by the owners. lIFE SAVINGS WERE LOST. pEOPLE lost their homes, and retirement. This was a real estate fraud, A SCAM!!. Do we deserve to have more taken from us? It was the CNP local politicians who got on the promotional videos claiming this was a great opportunity. I woud only hope the local politicians wold not dream of screwing us over once AGAIN!!
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