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Consent-General Government # 14.
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| Board of Supervisors |
Financial Services |
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| Subject |
| Authorize the Chief Financial Officer discretion to decrease the re-offer listing prices to any price at or above $1.00 for unsold tax-defaulted properties offered at public auction via the Internet on April 27-30, 2018, pursuant to California Revenue and Taxation Code section 3698.5(c) and 3692(e). (No general fund impact) (Newens) |
| Recommended Action |
| Authorize the Chief Financial Officer discretion to decrease the re-offer listing prices to any price at or above $1.00 for unsold tax-defaulted properties offered at public auction via the Internet on April 27-30, 2018, pursuant to California Revenue and Taxation Code section 3698.5(c) and 3692(e). |
| Strategic Plan Goal(s) |
| Operational Excellence |
| Reason for Recommended Action/Background |
The County has parcels on which the property taxes for the fiscal year 2011-12 and prior were unpaid as of June 30, 2017 and remained unpaid as of January 23, 2018 that are subject to the Tax Collector's power of sale. The initial offering listing price includes the total taxes, penalties, fees and costs on parcels. The minimum bid prices stated on the initial offering are calculated in accordance with Revenue and Taxation Code Section 3698.5 and California State Controller's guidelines.
The purpose of offering tax-defaulted property at a tax sale is to collect the unpaid taxes and to return the property to a revenue-generating status. If the initial offering does not result in a sale, the re-offering at a reduced price will further assist in returning the property to revenue generating status. The County will recover the final bid amount up to the taxes due to the County.
Any remaining unsold parcels(s) thereafter may be re-offered at a new sale within 90 days of the original sale date, pursuant to California Revenue and Taxation Code section 3692(e). California Revenue and Taxation Code section 3698.5(c) authorizes the Tax Collector, with Board approval, to reduce the opening bid of any unsold property to an amount less than the taxes due. The purpose of this item is to authorize the Chief Financial Officer, acting in his role as the Tax Collector, to reduce the minimum bid if a property is not sold for the statutory minimum. State law requires the Chief Financial Officer to set the minimum bid amount at a sum deemed "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." |
| Collaborations (including Board advisory groups and external partner agencies) |
| Coordinated with the County Counsel's Office, took exhaustive attempts to contact all taxpayers concerned, and will continue until the day of the sale. |
| Competitive Bid Process |
| N/A |
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| Fiscal Impact |
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| Source of Funds for this Expenditure |
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