California AB418 amends the Revenue and Taxation Code to regulate the sale of tax-defaulted property.

California AB418 amends Section 3794.3 of the Revenue and Taxation Code to establish conditions for the sale of tax-defaulted property. A sale can only occur if approved by the board of supervisors, who must conduct a hearing with notice and make a finding based on substantial evidence. The board cannot approve a sale unless it finds that the sale price is greater than or equal to the tax sale value of the property or that the tax sale value is less than the amount necessary to redeem the property.

California AB418 amends the Revenue and Taxation Code to regulate the sale of tax-defaulted property.

California AB418 amends Section 3794.3 of the Revenue and Taxation Code to establish conditions for the sale of tax-defaulted property. A sale can only occur if approved by the board of supervisors, who must conduct a hearing with notice and make a finding based on substantial evidence. The board cannot approve a sale unless it finds that the sale price is greater than or equal to the tax sale value of the property or that the tax sale value is less than the amount necessary to redeem the property.