Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2010

Revenue and Taxation Code

Property Taxation

Part 6. Tax Sales

CHAPTER 7. Sale to Private Parties After Deed To State

Section 3698.7

3698.7. Minimum price for property with welfare exemption. (a) With respect to property for which a property tax welfare exemption has been granted and that has become tax defaulted, the minimum price at which the property may be offered for sale pursuant to this chapter shall be the higher of the following:

(1) Fifty percent of the fair market value of the property. For the purposes of this paragraph, "fair market value" means the amount as defined in Section 110 as determined pursuant to an appraisal of the property by the county assessor within one year immediately preceding the date of the public auction. From the proceeds of the sale, there shall be distributed to the county general fund an amount to reimburse the county for the cost of appraising the property. The value of the property as determined by the assessor pursuant to an appraisal shall be conclusively presumed to be the fair market value of the property for the purpose of determining the minimum price at which the property may be offered for sale.

(2) The total amount necessary to redeem, plus costs. For purposes of this paragraph:

(A) The "total amount necessary to redeem" is the sum of the following:

(i) The amount of defaulted taxes.

(ii) Delinquent penalties and costs.

(iii) Redemption penalties.

(iv) A redemption fee.

(B) "Costs" are those amounts described in subdivision (c) of Section 3704.7, subdivisions (a) and (b) of Section 4112, Sections 4672, 4672.1, 4672.2, and 4673, and subdivision (b) of Section 4673.1.

(b) This section shall not apply to property or interests that qualify for sale in accordance with the provisions of subdivisions (b) and (c) of Section 3692.

(c) Where property or property interests have been offered for sale at least once and no acceptable bids therefor have been received, the tax collector may, in his or her discretion and with the approval of the board of supervisors, offer that property or those interests at the next scheduled sale at a minimum price that the tax collector deems appropriate.

History.—Added by Stats. 1995, Ch. 496, in effect January 1, 1996. Stats. 1996, Ch. 124, in effect January 1, 1997, added "and" after "4672.1, 4672.2," in subparagraph (B) of paragraph (2) of subdivision (a). Stats. 2003, Ch. 199 (SB 1063), in effect January 1, 2004, substituted "that" for "which" after "been granted and" in the first sentence of the first paragraph and added "subdivision (c) of Section 3704.7," after "amounts described in" in subparagraph (B) of paragraph (2) of subdivision (a).