Close to 1,000 tax-delinquent properties in Riverside County will be sold through an online auction.
The Riverside County Board of Supervisors voted unanimously on January 15 to approve the sale of 946 tax-delinquent properties, including homes and land that were seized due to unpaid property taxes. The auction will use an open electronic bidding format.
The sale will be conducted by the Riverside County Treasurer-Tax Collector in partnership with auction platform Bid4Assets.com, and it will run entirely online. The auction is scheduled for April 23–24, with winning bidders determined through open, competitive online bidding.
County officials said the purpose is to recover unpaid taxes and transfer ownership to new buyers, returning the properties to tax-producing status.
Michael Thomas, assistant director of the Treasurer-Tax Collector’s Office, said the Bid4Assets.com system operates in a way that is “open, competitive and verifiable.”
Board Chair Karen Spiegel said a key advantage of the online format is that bidders can participate without visiting each property in person.
County documents show minimum bids start at $100 for some properties in Lake Elsinore and Wildomar, while the highest starting price listed is $1.16 million for a residential property in Desert Hot Springs.
Officials noted that not every property on the county list will necessarily go to auction. If a delinquent owner clears the property tax lien before the auction, the property will be removed from the sale list.
The county said minimum bids reflect unpaid taxes and sale-related costs. Officials added that for properties that draw little interest in the first round, minimum bids may be reduced.
The total value of all properties classified as tax-delinquent is estimated at $28.92 million. The county said this is the 14th year it has used an online auction to sell its portfolio of tax-delinquent properties in bulk.
Prospective bidders must register online and submit a deposit to participate. Under state law, properties with a tax lien can be sold only after a minimum five-year waiting period.
BY HOONSIK WOO [woo.hoonsik@koreadaily.com]
