County Treasurer to hold online auction

Dan McAllister, the San Diego County Treasurer-Tax Collector announced Monday that his office will hold an On-line Property Tax Sale Auction beginning on Saturday, May 16 through Thursday, May 21.

Interested bidders need to be pre-registered by 5:00 pm Tuesday, May 12, 2009.

“We welcome interested bidders to go to

www.sdtreastax.com

and click on the On-line Tax Sale link. We have a lot of great timeshares that did not sell at the Annual Tax Sale in February,” said McAllister. “I am sure that many of these timeshares will provide a great vacation opportunity for any successful bidder. Due to this economic climate, it is imperative that we receive all of the back taxes that are owed on these properties.”

Each year the San Diego County Treasurer-Tax Collector, in accordance with the California state law, conducts a public auction to sell properties that have outstanding property tax liabilities for five years or longer. Of the properties available for auction, all 67 are timeshare properties. It is hoped that the On-line Property Tax Sale Auction will generate $104,000 from the current tax-defaulted properties.

Minimum bids are determined based on the total amount of back taxes and penalties owed, as well as sales costs. The successful bidder may take possession of a property after making a payment in full and after the Tax Deed to Purchaser has been recorded.

The On-line Auction will be conducted on

www.Bid4assets.com

.