Peebles Corp Delinquent on 2008 Property Taxes

Update: As of July 1, 2009, Peebles Corp. has defaulted on its 2008 property taxes. A search for one of the quarry parcels now includes the the notation:

DEFAULTED PARCEL.   DO NOT PAY.   SEE REDEMPTION FOR PAYMENT AMOUNT.

A search of the San Mateo County Tax Collection web site shows that as of June 21, Peebles Corp. is delinquent in paying its 2008 property taxes. (The APNs for the quarry site are 018-150-110, 018-150-120, and 018-150-150. If the taxes for a parcel has been paid, the search would show the payment date and would not include information about payment options.)

Currently, the company owes $93,900.98, which includes the tax assessment as well as a 10% penalty. It is interesting to note that the City's portion of the tax assessment is about $10,000; revenue the City could definitely use as it finalizes its budget. If the taxes are not paid by June 30, the company will be in default, and according to Chapter 11 of California Board of Equalization Publication 29 (PDF), monthly penalties of 1.5% will be added to the unpaid taxes.

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