This chapter shall be known as the "Real Property Transfer Tax of the City of Sunnyvale." It is adopted pursuant to the authority contained in Part 6.7 (commencing with Section 11901) of Division 2 of the Revenue and Taxation Code of the state of California.
(Prior code § 8-11.01; Ord. 1413 § 1, 1967)
There is hereby imposed on each deed, instrument, or writing
by which any lands, tenements, or other realty sold within the city
of Sunnyvale 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 one hundred dollars, a tax at the rate of twenty-seven and
one-half cents for each five hundred dollars, or fractional part thereof.
(Prior code § 8-11.02; Ord. 1413 § 1, 1967)
Any tax imposed pursuant to Section 3.08.020 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.
(Prior code § 8-11.03; Ord. 1413 § 1, 1967)
Any tax imposed pursuant to this chapter shall not apply to
any instrument in writing given to secure a debt.
(Prior code § 8-11.04; Ord. 1413 § 1, 1967)
Any deed, instrument or writing to which the United States or
any agency or instrumentality thereof, any state or territory, or
political subdivision thereof, is a party shall be exempt from any
tax imposed pursuant to this chapter when the exempt agency is acquiring
title.
(Prior code § 8-11.05; Ord. 1413 § 1, 1967; Ord.
1562-70 § 1)
Any tax imposed pursuant to this chapter 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 subdivision (m) of Section 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 subdivision (3) of Section 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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Subdivisions (a) to (d), inclusive, 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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(Prior code § 8-11.06; Ord. 1413 § 1, 1967)
Any tax imposed pursuant to this chapter shall not apply to
the making or delivery of conveyances to make effective any order
of the Securities and Exchange Commission, as defined in subdivision
(a) of Section 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 Section 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.
(Prior code § 8-11.07; Ord. 1413 § 1, 1967)
(a)
In
the case of any realty held by a partnership, no levy shall be imposed
pursuant to this chapter by reason of any transfer of an interest
in a partnership, or otherwise, if:
(b)
If
there is a termination of any partnership within the meaning of Section
708 of the Internal Revenue Code of 1954, for purposes of this chapter,
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.
(c)
Not
more than one tax shall be imposed pursuant to this chapter by reason
of a termination described in subdivision (b), and any transfer pursuant
thereto, with respect to the realty held by such partnership at the
time of such termination.
(Prior code § 8-11.08; Ord. 1413 § 1, 1967)
The county recorder shall administer this chapter in conformity with the provisions of Part 6.7 of Division 2 of the Revenue and Taxation Code, and the provisions of any county ordinance adopted pursuant thereto.
(Prior code § 8-11.09; Ord. 1413 § 1, 1967)
Claims for refund of taxes imposed pursuant to this chapter shall be governed by the provisions of Chapter 5 (commencing with Section 5096) of Part 9 of Division 1 of the Revenue and Taxation Code of the state of California.
(Prior code § 8-11.10; Ord. 1413 § 1, 1967)
