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Adopt a resolution accepting claims for excess proceeds from tax-defaulted property sales and authorizing distribution of excess proceeds from the sales
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Published Notice Required? Yes ____ No _X _
Public Hearing Required? Yes ____ No _X _
DEPARTMENTAL RECOMMENDATION:
Adopt a resolution accepting claims for excess proceeds from tax-defaulted property sales and authorizing distribution of excess proceeds from the sales.
SUMMARY:
Pursuant to Board of Supervisors' Resolution No. 2016-18, on June 1, 2 and 3, 2016, the Solano County Treasurer/Tax Collector/County Clerk ("Tax Collector") conducted a public auction of tax-defaulted properties on the internet. After the properties were sold, the delinquent taxes, interest, penalties and statutory administrative costs were paid from the proceeds. The remaining sums are deemed excess proceeds. The Tax Collector is entitled to make a claim for the actual costs related to the distribution of excess proceeds and, pursuant to the Revenue and Taxation Code, all other persons with an interest in the properties have one year in which to file a claim for excess proceeds from the sale. The former owner of a property can make a claim for any residual amount, after the Tax Collector has been paid its costs and all creditors with valid claims have been paid.
Seven (7) parcels were sold at the auction. The Tax Collector received proceeds in excess of the sums owed the Tax Collector on all of the parcels sold, and received claims for excess proceeds on four (4) of the parcels. The requested action authorizes distribution of the excess proceeds funds according to statutory priority and the resolution.
FINANCIAL IMPACT:
The County received all of its taxes, penalties, interest, and administrative costs for the defaulted parcels.
The reimbursement of $1,797.37 for the Tax Collector's administrative costs is unanticipated revenue that will be recorded in the department's FY2017/18 budget.
In addit...
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