This chapter shall be known as the "Real Property Transfer Tax
Ordinance of the City of Pico Rivera." 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.
(Prior code § 6920)
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 her 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 § 6921)
The county recorder shall administer the tax in 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 § 6928)
Any tax imposed pursuant to Section
3.40.020 of this chapter 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 § 6922)
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.
(Prior code § 6926)
Any tax imposed pursuant to this chapter shall not apply to
any instrument in writing given to secure a debt.
(Prior code § 6923)
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.
(Prior code § 6924)
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.
(Prior code § 6929)