Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Revenue and Taxation Code

Property Taxation

Part 6. Tax Sales

CHAPTER 7. Sale to Private Parties After Deed To State

Section 3698.5

3698.5. Minimum price. (a) Except as provided in Section 3698.7, the minimum price at which property may be offered for sale pursuant to this chapter shall be an amount not less than the total amount necessary to redeem, plus costs. For purposes of this subdivision:

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

(A) The amount of defaulted taxes.

(B) Delinquent penalties and costs.

(C) Redemption penalties.

(D) A redemption fee.

(2) "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, 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 at the minimum price determined pursuant to subdivision (a), the tax collector may, in his or her discretion and with the approval of the board of supervisors, offer that same property or those interests at the same or next scheduled sale at a minimum price that the tax collector deems appropriate in light of the most current assessed valuation of that property or those interests, or any unique circumstance with respect to that property or those interests.

History.—Added by Stats. 1979, Ch. 615, in effect January 1, 1980. Stats. 1980, Ch. 411, in effect July 11, 1980, deleted "inclusive of the costs of appraisal, advertising, and recording" after "auction" in the first sentence of subdivision (b) and added subdivision (c). Stats. 1984, Ch. 866, in effect January 1, 1985, substituted "offered for sale" for "sold", substituted "not less than 25 percent" for "equal to not less than 50 percent" and deleted "of such property" after "fair market value" in subdivision (a). Stats. 1985, Ch. 316, effective January 1, 1986, substituted "the" for "such" after "value of" in subdivision (b); substituted "property or interests which qualify" for "tax-deeded property which qualifies" after "apply to" in subdivision (c). Stats. 1993, Ch. 1187, in effect January 1, 1994, substituted "the total amount necessary to redeem, plus costs. For purposes of this subdivision:" for "25 percent of the fair market value" after "less than" in subdivision (a); deleted former subdivision (b) which defined fair market value as the amount defined in Section 110 as determined pursuant to a specified appraisal; added paragraphs (1) and (2) to subdivision (a); relettered former subdivision (c) as (b); and added subdivision (c). Stats. 1994, Ch. 705, in effect January 1, 1995, substituted "that" for "which" after "interests" and substituted "(b) and (c)" for "(a) and (b)" after "subdivisions" in subdivision (b). Stats. 1995, Ch. 496, in effect January 1, 1996, substituted "Except as provided in Section 3698.7, the" for "The" after "(a)" in subdivision (a). Stats. 1996, Ch. 800, in effect January 1, 1997, added "at the minimum price determined pursuant to subdivision (a)" after "have been received", substituted "that same property" for "that property" after "supervisors, offer", substituted "the same or next" for "the next" after "those interests at", and added "in light of the most current assessed valuation of that property or those interests, or any unique circumstance with respect to that property or those interests" after "collector deems appropriate" in subdivision (c). Stats. 2003, Ch. 199 (SB 1063), in effect January 1, 2004, added "subdivision (c) of Section 3704.7," after "amounts described in" in the first sentence of paragraph (2) of subdivision (a).

Note.—Section 7 of Stats. 1979, Ch. 615, provided that Sections 1, 2, 2.1, 2.2, and 2.5 of this act shall apply with respect to the sale of tax-deeded property which is approved by resolution of the board of supervisors pursuant to Section 3699 of the Revenue and Taxation Code after the effective date of this act. Section 8 thereof provided no payment by state to local governments because of this act.

Note.—See note following Section 3693.1.