California Revenue and Taxation Code

§ 4527

RTC § 4527 Effective Jan 1, 1997Div. 1 · Part 7.5 · Ch. 3

Statute text

(a)The tax collector shall pay to the holder of a tax certificate, from amounts on deposit in the Tax Certificate Redemption Fund, an amount equal to the purchase price of the tax certificate, together with interest thereon at a rate equal to the rate the county would have to pay on any refund to a taxpayer for the same fiscal year, that rate to be applied to all amounts paid with respect to the certificate from the date of the sale of the tax certificate, and shall cancel the tax certificate if any of the following occur:

(1)The taxes and assessments assigned by the tax certificate had been paid prior to the sale of the tax certificate.

(2)After the sale of the tax certificate, the taxes and assessments assigned by the tax certificate are canceled for any reason other than the payment of the taxes and assessments.

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Legislative history

Amended by Stats. 1996, Ch. 699, Sec. 8. Effective January 1, 1997.