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Treasurer asks committee to approve timeshare-only auction of 165 tax-default parcels
Summary
The Treasurer proposed replacing a prior list with 165 timeshare parcels for a May tax auction; staff said timeshares pose no displacement risk and cited past success reoffering timeshares to remove them from the tax-default roll.
Molly Cohen of the Treasurer and Tax Collector’s Office asked the Budget and Finance Committee to approve a revised list of 165 tax-default timeshare parcels to be offered at a May auction.
Cohen explained that timeshares are fractional vacation properties, that there are roughly 5,000 timeshares in the city spread across five properties, and that owners sometimes stop paying maintenance or taxes (or die), leaving many timeshares delinquent. She said state Revenue & Taxation Code procedures require offering parcels that have not paid taxes for the statutory period and that the city is conducting a timeshare-only auction to remove these parcels from the default roll without displacing housing.
Committee members pressed why so many timeshares could be delinquent for five years; Cohen said maintenance fees and estate issues are common causes and offered to consult the city attorney on possible legislative remedies. The committee moved Item 6 to the Board with a positive recommendation.
