Laws, Regulations & Annotations

PTLG Table of Contents > Property Tax Annotations > V > 848.0000 VALUATION METHODOLOGY > 848.0003

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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V

848.0000 VALUATION METHODOLOGY

Annotation 848.0003

848.0003 Auction Sale. Purchases at foreclosure auctions are not considered open-market transactions because they are, by definition, "forced sales" characterized by nonmarket conditions. Thus, the purchase price presumption does not apply to properties that are purchased at auction because they are not "open-market" transactions as contemplated by Revenue and Taxation Code section 110(b). C 1/4/2016.