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Does the property tax assessment reset at tax deed sale in CA?
Anonymous10 views2 answers
I am looking at the county tax deed auction list and need to know if the property tax assessment changes to the auction price or stays at the assessed value for the previous defaulted owner when tax deed sale property is transferred to the winning auction buyer. This info would help me in deciding which property I can afford to bid on and how much I can afford to bid.
The transfer of the property at the county tax sale triggers a reassessment for property tax purposes. The property may not have the same assessed value as the previous owner and the property may not have the assessed value of the winning bid at the tax sale auction. The assessed value for the property you purchase at the county tax sale will be assessed at its current value, regardless of how much you pay for it at the county tax sale. The condition of the property should be taken into consideration.
You ask a really good question. I agree with Mr. Price. Redemption of tax-defaulted property by the assessee shall not be considered as a change in ownership. However, a sale of tax-defaulted property by the tax collector, whether to the former assessee or to any other person, is a change in ownership requiring reappraisal as of the date of the sale.
