This Chapter shall be known as the "Dana Point Real Property
Transfer Tax." This Chapter is adopted pursuant to the authority contained
in Part 6.7 (commencing with Section 11901) of Division 2 of the California
Revenue and Taxation Code.
There is 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 One hundred dollars,
a tax at the rate of twenty seven and one half cents ($.27½)
for each Five hundred dollars of consideration or value or fractional
part thereof.
Any tax imposed pursuant to Section
3.22.020 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.
Any tax imposed pursuant to this Chapter shall not apply to
any instrument in writing given to secure a debt.
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 this
Chapter 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.
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 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 Title 11 of the United States Code, as amended; or
(d) Whereby
a mere change in identity, form, or place of organization is effected.
Subdivisions (a) to (d), inclusive, of this Section shall apply
only 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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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;
(c) Such
conveyance is made in obedience to such order.
The County Recorder shall administer this Chapter in conformity
with the provisions of Part 6.7 of Division 2 of the California Revenue
and Taxation Code and the provision of any County ordinance adopted
pursuant thereto.
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 California Revenue and
Taxation Code.