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Adopt a resolution authorizing the Treasurer-Tax Collector-County Clerk to hold a sale of tax-defaulted property at a Chapter 7 (Public Auction) sale via the Internet within 180 days of Board approval
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Published Notice Required? Yes ____ No _X _
Public Hearing Required? Yes ____ No _X _
DEPARTMENTAL RECOMMENDATION:
Adopt a resolution authorizing the Treasurer-Tax Collector-County Clerk to conduct a sale of tax-defaulted property at a Chapter 7 (Public Auction) sale via the Internet within 180 days of Board approval of this item
SUMMARY:
Revenue & Taxation Code ?3692 requires the Tax Collector to attempt to sell tax-defaulted property within four years after the property becomes subject to sale. For efficiencies sake, the Tax Collector conducts at least one sale annually of all property subject to sale. Property becomes subject to sale after taxes have been delinquent for at least 3 years for commercial property and 5 years for all other property. The 75 parcels recommended for sale this year have been delinquent for at least 3 years for commercial property; 5 years for all other property and in some cases may have been offered at a previous sale.
Property owners or parties of interest may redeem parcels up until 5:00 p.m., the day prior to the sale, by paying the delinquent taxes, interest, penalties and fees owing on the parcel. Revenue and Taxation Code ?3692.2 allows a tax sale to be conducted via the Internet.
FINANCIAL IMPACT:
The successful sale of the 75 parcels at auction will recover $1,768,143.70 in taxes, penalties, interest, and fees for the County if all of the parcels sell or are redeemed. It is estimated that the cost of conducting the sale will be $54,222.50. The cost, including the publication, parties of interest search, recording fees, etc., will be paid out of the Tax Collector's budget and will be recovered from the proceeds of the sale of the parcels that are sold. The amount of taxes recovered ...
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