In California, if an owner does not pay the property taxes, the property becomes “tax defaulted,” and the owner has five years to redeem the property. If the owner redeems, he must pay interest, penalties, and costs to the tax collector. If the owner does not redeem, the tax collector can sell the property.2 The buyer at this sale will never be paid any interest. He is bidding on the property, and that is all he will get.
