Cal. Rev. & Tax. Code § 3698.7

(a) With respect to property for which a property tax welfare exemption has been granted and that has become tax defaulted, the minimum price at which the property may be offered for sale pursuant to this chapter shall be the higher of the following:
1. (1) Fifty percent of the fair market value of the property. For the purposes of this paragraph, “fair market value” means the amount as defined in Section 110 as determined pursuant to an appraisal of the property by the county assessor within one year immediately preceding the date of the public auction. From the proceeds of the sale, there shall be distributed to the county general fund an amount to reimburse the county for the cost of appraising the property. The value of the property as determined by the assessor pursuant to an appraisal shall be conclusively presumed to be the fair market value of the property for the purpose of determining the minimum price at which the property may be offered for sale.
2. (2) The total amount necessary to redeem, plus costs and the outstanding balance of any property tax postponement loan. For purposes of this paragraph:
  1. (A) The “total amount necessary to redeem” is the sum of the following:
    1. (i) The amount of defaulted taxes.
    2. (ii) Delinquent penalties and costs.
    3. (iii) Redemption penalties.
    4. (iv) A redemption fee.
  2. (B) “Costs” are those amounts described in subdivision (c) of Section 3704.7, subdivisions (a) and (b) of Section 4112, Sections 4672, 4672.1, 4672.2, and 4673, and subdivision (b) of Section 4673.1.
3. (3) The “outstanding balance of any property tax postponement loan” is the sum of the following:
  1. (A) The tax payments made by the State Controller’s office on behalf of the claimant in the Property Tax Postponement Program.
  2. (B) Accrued interest pursuant to Section 16183 of the Government Code, subject to Sections 20644 and 20644.5.
  3. (C) Other associated fees and penalties as deemed appropriate by law.
  4. (D) Less any payments already made on the property tax postponement loan.
(b) This section shall not apply to property or interests that qualify for sale in accordance with the provisions of subdivisions (b) and (c) of Section 3692.
(c) Where property or property interests have been offered for sale at least once and no acceptable bids therefor have been received, at the minimum price determined pursuant to subdivision (a), the tax collector may, in his or her discretion and with the approval of the board of supervisors, offer that same property or those interests at the same or next scheduled sale at a minimum price that the tax collector deems appropriate in light of the most current assessed valuation of that property or those interests, or any unique circumstance with respect to that property or those interests.