1:00 P.M. - Consideration of the distribution of excess proceeds in the amount of $663,489.75 from Tax Defaulted Land Sale #162 held May 31, 2024 per R&T §4675.

Summary

This item concerns the distribution of $663,489.75 in excess proceeds generated from Tax Defaulted Land Sale #162, which occurred on May 31, 2024. These funds are allocated to "parties of interest" as defined by California Revenue and Taxation Code §4675, typically comprising former property owners or lienholders whose properties were sold due to unpaid taxes. The County Treasurer-Tax Collector has received claims totaling approximately $435,440.41 against these excess proceeds. For instance, three individuals (John, Lisa, and Pia Jensen) are claiming shares of $13,877.60 from the sale of a specific property (APN 034-171-300-000), asserting their rights as heirs of the former owner, Sophia Jensen. The City Council will review and consider these claims for final distribution.

Citizen Impact

This process ensures that funds collected beyond the owed taxes and sale costs are returned to eligible former property owners or their heirs, providing a legal mechanism for the equitable distribution of surplus funds from tax sales.

Confidence

high