Bill 55: An Act to Amend the Property Assessment and Taxation Act

This bill primarily affects property owners across the Northwest Territories — including businesses that own commercial real estate, rental properties, or land — who are subject to property tax. Property owners who fall into tax arrears may now face a new legal pathway where the taxing authority can go to court to take title of their property if it fails to sell at public auction, which is a significant new risk for businesses carrying delinquent property tax debt. On the administrative side, municipalities and other collecting authorities will need to update how they send tax notices, as electronic delivery is now permitted with owner consent and some registered mail requirements are removed. Real estate investors and lenders with registered interests in NWT properties should also be aware that court-ordered title transfers can extinguish their claims.