The following article from the Contra Costa times describes a condition where some homeowners are receiving a tax bill from the state when they have either short saled their home or have had their home taken back via foreclosure. There are some specific conditions that can result in a tax bill being sent by the state (give us a call and we can discuss with you). So when considering a short sale, Deed in Lieu, or Foreclosure on Danville Real Estate, or any real estate for that matter, you really need to understand the ramifications of your decisions.
Distressed homeowners canceled debt still subject to California taxes – ContraCostaTimes.com.
