San Francisco Parking Tax Collection Bond

The San Francisco Parking Tax Collection Bond is required by the City and County of San Francisco, California.

What is the Purpose of This Bond?

The San Francisco Parking Tax Collection Bond is in force to help ensure that parking lot owners and operators adhere to the following rules and obligations in San Francisco’s City Law Code:

• All amounts of taxes and fees imposed are due and payable to the San Francisco Tax Collector
• These taxes and fees must be paid on or before the last day of the month immediately following the month for which the payment is due.
• Each parking structure or lot has an effective tax of 25% on the rent of every occupancy of parking space in a parking structure or lot in the City and County of San Francisco.
• The Code imposes revenue control equipment requirements and compliance fees on parking operators.

What Does This Bond Enforce?

This bond guarantees that the bond principal (the person or entity that purchased the bond, in this case the owner or operator of the parking structure) properly pays the obligee (the person or entity who requires the bond, in this case the City of San Francisco).