Jan 8 - Local News You Need to Know
Plus: Public notices and upcoming events in and around Owen Sound
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Readers,
We reported yesterday that BG Wealth Group, a Toronto-based private equity real estate firm led by Craig Dunkerley and Claudia Harvey, has accumulated over $286,000 in unpaid property taxes and penalties on five downtown Owen Sound properties.
Shortly after we released that article, it was brought to my attention that a sentence in that piece was worded poorly. When I wrote that “taxpayers may be left holding a sizeable deficit in property tax revenue,” I was thinking of the impact of unpaid taxes not being available in the annual budget. It was not my intention to suggest that the City would never collect.
The City of Owen Sound, as with all Ontario municipalities, has a process for tax arrears collection. Under Ontario law, municipalities can register a tax arrears certificate on properties where taxes remain unpaid for an extended period. As we reported previously, the City registered a tax arrears certificate for 261-281 9th St East on December 15, 2023.
Once a tax arrears certificate is registered, it becomes a lien on the property. If the owner sells the property after this registration but before the municipality takes further steps, the tax arrears must typically be settled as part of the property transfer process.
I’ve issued a correction in the original article in the hopes of providing clarity, and apologize for any confusion.
As for whether the other four properties we’ve reported on have tax liens — we simply don’t know yet. There are a lot of unanswered questions surrounding the BG Wealth Group properties, and we continue to gather information.
While we can be certain the City will collect the tax debts one way or another, we are only just learning about the impacts of this investment scheme on those who bought into the fund — and, importantly, the Owen Sound tenants who found themselves on the wrong end of a plan to deliver aggressive investment returns at their expense.
Read the full story for a detailed look at what we’ve been able to confirm so far.
Public Notices
The River District Board meets on Wednesday, January 8, at 5:30 p.m. in Council Chambers at City Hall.
The Grey County Council and Committee of the Whole meetings scheduled for this Thursday, January 9, will take place virtually due to a shorter-than-normal agenda.
Leaf and Yard Waste Composting Site to Close for the Season beginning at 5 p.m. on Monday, January 13 - City of Owen Sound
Regular meetings of Owen Sound City Council resume on Monday, January 13, at 5:30 p.m. in Council Chambers at City Hall.
The City of Owen Sound Corporate Services Committee meeting scheduled for Thursday, January 16th, 2025, at 5:30 p.m. has been cancelled.
Local News
Keep reading for local events and our original reporting + curated local news updates. Today, you’ll find info on an upcoming public meeting involving a zoning application for a six-storey hotel near Heritage Place Mall, charges laid in the death of an infant, MP Alex Ruff’s reaction to PM Justin Trudeau’s resignation, and more.
~ Miranda Miller
Editor
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