When the reassessment, as made or as reviewed and corrected, has been confirmed by the legislative body, it shall be recorded in the office of the superintendent of streets.
Chapter 7Recordation of Reassessment
Section § 9225
Once the city council or relevant legislative body has finalized any changes to a reassessment, they must officially record it with the superintendent of streets' office.
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Section § 9226
Once the reassessment is recorded with the superintendent of streets, it acts as a new lien on the properties involved, replacing any previous assessments that were applied to them.
When recorded with the superintendent of streets the reassessment shall become a lien upon the various parcels of land assessed and shall be in lieu of the assessments orginally levied thereon.
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Section § 9227
This law section means that any original assessments, including any penalties and interest, are replaced by new reassessments. Essentially, the old payments are made irrelevant, and the new ones take their place.
Assessments originally levied, and all penalties and interest accrued thereon, shall be deemed superseded and supplanted by the reassessments.
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Section § 9228
This law section states that if a property assessment is redone, the new reassessment will have the same priority and importance as the original assessment did when it first became a lien on the property.
The lien of the reassessment shall be given superiority and priority as of the date that the original assessment became a lien upon the property reassessed.
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Section § 9229
This law states that any unpaid reassessments, including any interest and penalties, become a lien on the land. This means the property is essentially held as collateral for the debt until the reassessments are paid off. However, this lien only lasts for the same period during which legal action can be taken on the last series of bonds related to these unpaid reassessments.
Reassessments and each installment thereof and the interest and penalties thereon shall be a lien against the parcels of land on which made, until the same are paid, but for a period not exceeding the time within which an action might be brought on the last series of refunding bonds issued upon the security of the unpaid reassessments.
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Section § 9230
If you have an unpaid reassessment on a property, future payments (installments), interest, and penalties are not covered by a general warranty of title. This means these elements don't count as liabilities or issues under a warranty that guarantees your property's ownership status.
Unmatured installments, interest, and penalties on unpaid reassessments shall not be deemed to be within the terms of any general warranty of title as to any parcel against which a reassessment is made.
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Section § 9231
This law explains that when new bonds, called refunding bonds, are issued to replace old ones, the money collected from reassessments (which are adjustments to taxes or fees) will be used as a trust fund. This fund is meant specifically for paying back those new bonds and the interest they accrue.
When refunding bonds are issued, the reassessments and any reassessments which may be issued thereon or in lieu thereof, together with interest thereon, shall remain and constitute a trust fund for the redemption and payment of the refunding bonds and the interest thereon.
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