County Grosses $7.5M in 2 Property Tax Sale Auctions
San Diego County Treasurer-Tax Collector Dan McAllister announced today his office sold 701 properties for $7.5 million during its two online property tax auctions this year.
“For the second year now, our online auction platform has allowed us to sell more properties than ever before, which means these parcels will soon be back on the tax roll and generating money for the many services provided by the County,” said McAllister.
The Treasurer-Tax Collector’s Office (TTC) held a reoffer auction in July through an online format similar to e-Bay. The 691 offered properties were left over from the TTC’s initial online tax auction in May, during which the TTC grossed $3 million in sales.
“In this second round of bidding, we got 378 more properties off our tax-defaulted list and into the hands of buyers,” said McAllister. “Since the majority of properties were timeshares, we saw bidders from 17 states eager to buy a vacation spot in San Diego.”
California law states that if owners do not pay their property taxes for five years or more, the County can auction their properties to recover taxes.
Last year, the TTC’s two auctions brought in $7.8 million through the sale of 685 properties.
In years past, the TTC held property tax sales through live auctions at venues such as the San Diego Convention Center. The last in-person auction was held in 2015, when the TTC sold 85 properties for $2.9 million.