San Diego County could shortly see a significant influx of over $16 million in tax revenue from an upcoming online property tax auction. Treasurer-Tax Collector Dan McAllister opened the virtual doors for registration, as reported by the county's official release. Up for grabs are 637 properties, all of which have languished in tax default for at least five years.
To potentially quickly recover back taxes, the auction is set to liquidate these assets, ranging from residential and commercial properties to timeshares and land parcels. "The properties for sale have been in tax default for five or more years. Following the California Revenue & Taxation Code, it’s time to get the properties back on the tax roll generating revenue for public services," McAllister stated, as per the San Diego County Treasurer-Tax Collector's Office. The online system is designed to allow easy access to property information and bidding for participants across the globe.
The auction's digital format requires interested parties to register by March 6 at the Treasurer-Tax Collector’s website. Participation calls for a $1,000 refundable deposit alongside a non-refundable $35 processing fee, though some properties may necessitate a heftier deposit. The auction window is scheduled from March 14 to 19.
With bidding soon to go live, bidders must thoroughly vet each property, as sales are irreversible once completed. The forecasted revenue of $16,300,000 hinges on all the properties being snapped up at the listed minimum bids. For those hoping to stay informed, McAllister advises signing up for email updates via the tax collector's website. Property owners facing the auction block have until March 13 to pay their due taxes and fees, as efforts have been made to reach out to them before the sale.
