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Army Veteran Owned | Expert Surety Bonds Since 2004
Have a question? +1 815-826-6324 (815-8-BondAI) phil@AmericasSuretyBonds.com
Army Veteran Owned | Expert Surety Bonds Since 2004
If your subdivision map is ready to record before the next property tax installments come due, the County will not record it until those taxes are secured. A surety bond for the tax collector's estimate lets the map record now without handing the County a cash deposit for taxes you would pay anyway in a few months.
In Contra Costa County, a final map or parcel map cannot be recorded while the land carries a lien for taxes or special assessments that are not yet payable unless the owner or subdivider posts security for them. County Code Section 94-4.418 calls for a letter from the tax collector estimating those taxes and, where required, an acceptable surety bond or instrument of credit for their payment, filed with the Clerk of the Board of Supervisors. The bond amount is the tax collector's estimate.
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California property taxes become a lien long before they are payable. When a subdivider records a final map or parcel map in that window, the old parcel is being split while its tax bill is still open. Government Code Section 66493 says the map shall not be recorded until the owner or subdivider files the official's estimate of those taxes and assessments with the clerk of the board of supervisors and files security conditioned on paying them.
Contra Costa County puts this into its own subdivision ordinance at County Code Section 94-4.418. The subdivider files a letter from the tax collector showing that all payable taxes and special assessments are paid, giving the tax collector's estimate of taxes and assessments not yet payable, and, as applicable, an acceptable surety bond or acceptable instrument of credit for their payment. Everything is filed with the Clerk of the Board of Supervisors.
The bond equals the tax collector's estimate for your property. Under Section 66493 the estimate covers all state, county, municipal and local taxes, plus the current installment of principal and interest on special assessments collected as taxes, that are a lien when the map records but are not yet payable. If the land being subdivided is only part of a larger assessed parcel, the security only needs to cover the amount the County decides is enough for the land being subdivided. Only amounts on the regular roll or a supplemental roll count.
The bond guarantees that the taxes get paid. Once the installments it covers are paid in full, the bond has done its job. Confirm the release process and accepted bond form with the Clerk of the Board of Supervisors and the Treasurer-Tax Collector before the bond is issued.
Section 66493 lets a county waive the security by ordinance for a parcel map of four or fewer parcels or a lot line adjustment, and it does not apply to amending maps filed under Section 66469. Ask the County whether a waiver applies to your map before you buy the bond.
Property taxes become a lien before they are payable. Government Code 66493 bars recording a map over that lien unless the taxes are secured. The bond is the security.
It matches the tax collector's estimate of taxes and special assessment installments that are a lien when the map records but are not yet payable.
With the Clerk of the Board of Supervisors, together with the tax collector's letter, under County Code Section 94-4.418.
State law lets a county waive the security by ordinance for parcel maps of four or fewer parcels or lot line adjustments. Check with the County before ordering the bond.
The surety prices the bond from the bond amount and a review of the principal's credit and finances. Larger amounts or weaker credit cost more.
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