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 any other person by his 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.
(Ord. 14 § 1, 1973)
Any tax imposed pursuant to Section
3.16.010 shall be paid by any person who makes, signs or issues any document or instrument subject to the tax or for whose benefit or use the same is made, signed or issued.
(Ord. 14 § 2, 1973)
Any tax imposed pursuant to this chapter shall not apply to
any instrument in writing given to secure a debt.
(Ord. 14 § 3, 1973)
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 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.
(Ord. 14 § 4, 1973; Ord. 100 § 6, 1976)
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 which is:
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;
D. Whereby
a mere change in identity, form or place of organization is effected.
Subsections A through D inclusive of this section shall only apply if the making, delivery or filing of instruments of transfer or conveyance occurs within five years from the date of such confirmation, approval or change.
|
(Ord. 14 § 5, 1973)
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 State Code, relating to the Public Utility Holding 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.
(Ord. 14 § 6, 1973)
Any tax imposed pursuant to this chapter shall not apply with
respect to any deed, instrument, or writing to a beneficiary or mortgagee,
which is taken from the mortgagor or trustor as a result of or in
lieu of foreclosure; provided, that such tax shall apply to the extent
that the consideration exceeds the unpaid debt, including accrued
interest and cost of foreclosure. Consideration, unpaid debt amount
and identification of grantee as beneficiary or mortgagee shall be
noted on the deed, instrument or writing or stated in an affidavit
or declaration under penalty of perjury for tax purposes.
(Ord. 14, 1973; Ord. 100 § 57, 1976)
A. In the
case of any realty held by partnership, no levy shall be imposed pursuant
to this chapter by reason of any transfer of an interest in a partnership
or otherwise, if:
1. Such
partnership (or other partnership) is considered a continuing partnership
within the meaning of Section 708 of the Internal Revenue Code of
1954; and
2. Such
continuing partnership continues to hold the realty concerned.
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 subsection
B of this section and any transfer pursuant thereto, with respect to realty held by such partnership at the time of such termination.
(Ord. 14 § 7, 1973; Ord. 100 § 53, 1976)
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 of the state, and the provisions of any county ordinance adopted
pursuant thereto.
(Ord. 14 § 8, 1973; Ord. 100 § 54, 1976)
Claims for refunds 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.
(Ord. 14 § 9, 1973; Ord. 100 § 55, 1976)