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Unclaimed Property Tax Refunds: Board’s Treasury Transfer Decision

Riverside County’s Pending Decision

Addressing Unclaimed Property Tax Refunds in Riverside County

According to My News LA.com, The Riverside County Board of Supervisors is set to address the transfer of nearly $800,000 in unclaimed property tax refunds owed to county residents and businesses during their upcoming session. Treasurer-Tax Collector Matthew Jennings disclosed that the refunds spanning tax years 2013 to 2018, amount to $792,861 for 793 individuals and entities. If approved by the board, these funds will be transferred to the county General Fund. Despite efforts to notify potential recipients including advertisements in newspapers and the retention of billing support services like Accurint, only 29 individuals responded with claims of which only 20 were deemed legitimate.

Among the notable cases is William Lyon Homes Inc. listed 191 times in documents with over $8,000 available for distribution. However, the reasons for the lack of response from many potential recipients remain unclear. In previous years, the board had postponed action on transfers to allow additional time for claims. Yet, under state law, the county is obligated to hold unclaimed property tax refunds for only four years before they become government property. This situation underscores the importance of timely action in claiming owed refunds as well as the county’s responsibility in managing unclaimed property in accordance with legal requirements.

(PHOTO: Unclaimed Property Tax Refunds: Board’s Treasury Transfer Decision)

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Riverside County’s Secure Process

Refunds frequently stem from adjustments in the property tax roll after payment offering taxpayers potential savings. However, if a refund check is returned, it is deposited into a dedicated account managed by the Office of the Treasurer-Tax Collector. This process ensures that unclaimed refund funds are securely held until they can be disbursed to eligible recipients or transferred to the county’s General Fund as per legal requirements.

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