[§ 1, Ord. 501, eff. December 7, 1967]
This article shall be known as the "Real Property Transfer Tax
Law of the City of Avalon". It is adopted pursuant to the authority
contained in Part 6.7 (commencing with § 11901) of Division
2 of the Revenue and Taxation Code of the State.
[§ 1, Ord. 501, eff. December 7, 1967]
There is hereby imposed on each deed, instrument, or writing
by which any lands, tenements, or other realty sold within the City
shall be granted, assigned, transferred, or otherwise conveyed to,
or vested in, the purchaser or purchasers, or any other person or
persons, by his or their direction, when the consideration or value
of the interest or property conveyed (exclusive of the value of any
lien or encumbrances remaining thereon at the time of sale) exceeds
$100 a tax at the rate of $0.275 for each $500 or fractional part
thereof.
[§ 1, Ord. 501, eff. December 7, 1967]
Any tax imposed pursuant to the provisions of § 3-3.502 of this article shall be paid by any person who makes, signs, or issues any document or instrument subject to the tax, or for whose use or benefit the same is made, signed, or issued.
[§ 1, Ord. 501, eff. December 7, 1967]
Any tax imposed pursuant to the provisions of this article shall
not apply to any instruments in writing given to secure a debt.
[§ 1, Ord. 501, eff. December 7, 1967]
The United States, or any agency or instrumentality thereof,
any State or territory or political subdivision thereof, or the District
of Columbia shall not be liable for any tax imposed pursuant to the
provisions of this article with respect to any deed, instrument, or
writing to which it is a party, but the tax may be collected by assessment
from any other party liable therefor.
[§ 1, Ord. 501, eff. December 7, 1967]
Any tax imposed pursuant to the provisions of this article shall
not apply to the making, delivering, or filing of conveyances to make
effective any plan of reorganization or adjustment:
(a)
Confirmed under the Federal Bankruptcy Act, as amended;
(b)
Approved in an equity receivership proceeding in a court involving
a railroad corporation, as defined in subsection (m) of § 205
of Title 11 of the United States Code, as amended;
(c)
Approved in an equity receivership proceeding in a court involving
a corporation, as defined in subsection (3) of § 506 of
Title 11 of the United States Code, as amended; or
(d)
Whereby a mere change in identity, form, or place of organization
is effected.
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The provisions of this section shall only apply if the making,
delivery, or filing of instruments of transfer or conveyances occurs
within five years from the date of such confirmation, approval, or
change.
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[§ 1, Ord. 501, eff. December 7, 1967]
Any tax imposed pursuant to the provisions of this article shall
not apply to the making or delivery of conveyances to make effective
any order of the Securities and Exchange Commission, as defined in
subsection (a) of § 1083 of the Internal Revenue Code of
1954, but only if:
(a)
The order of the Securities and Exchange Commission in obedience
to which such conveyance is made recites that such conveyance is necessary
or appropriate to effectuate the provisions of § 79k of
Title 15 of the United States Code relating to the Public Utility
Holding Company Act of 1935;
(b)
Such order specifies the property which is ordered to be conveyed;
and
(c)
Such conveyance is made in obedience to such order.
[§ 1, Ord. 501, eff. December 7, 1967]
(a)
In the case of any realty held by a partnership, no levy shall be
imposed pursuant to the provisions of this article by reason of any
transfer of all interest in a partnership or otherwise if:
(b)
If there is a termination of any partnership within the meaning of
§ 708 of the Internal Revenue Code of 1954, for the purposes
of this article such partnership shall be treated as having executed
an instrument whereby there was conveyed, for fair market value (exclusive
of the value of any lien or encumbrance remaining thereon), all realty
held by such partnership at the time of such termination.
[§ 1, Ord. 501, eff. December 7, 1967]
The County Recorder shall administer the provisions of this
article in conformity with the provisions of Part 6.7 of Division
2 of the Revenue and Taxation Code of the State and the provisions
of any County ordinance adopted pursuant thereto.
[§ 1, Ord. 501, eff. December 7, 1967]
Claims for the refund of taxes imposed pursuant to the provisions
of this article shall be governed by the provisions of Chapter 5 (commencing
with § 5096) of Part 9 of Division 1 of the Revenue and
Taxation Code of the State.
[§ 1, Ord. 501, eff. December 7, 1967]
The provisions of this article shall become operative upon the
operative date of any ordinance adopted by the County pursuant to
the provisions of Part 6.7 (commencing with § 11901) of
Division 2 of the Revenue and Taxation Code of the State, or on December
7, 1967, whichever is the later.
