[Amended 8-13-2007 by Ord. No. A-980]
The Borough of Kane adopts the provisions of
Article XI-D of the Tax Reform Code of 1971[1] and imposes a realty transfer tax as authorized under
that article, subject to the rate limitations therein. The tax imposed
under this section shall be at the rate of 1% on the value or consideration
paid for real estate situate in the Borough and transferred during
the effective term of this article.
[1]
Editor's Note: See 72 P.S. § 8101-D
et seq.
The tax imposed under § 228-34 and all applicable interest and penalties shall be administered, collected and enforced under the Act of December 31, 1965 (P.L. 1257, No. 511), as amended, known as the "Local Tax Enabling Act,"[1] provided that, if the correct amount of the tax is not
paid by the last date prescribed for timely payment, the Borough of
Kane, pursuant to Section 1102-D of the Tax Reform Code of 1971 (72
P.S. § 8102-D), authorizes and directs the Department of
Revenue of the Commonwealth of Pennsylvania to determine, collect
and enforce the tax, interest and penalties.
[1]
Editor's Note: See 53 P.S. § 6901
et seq.
Any tax imposed under § 228-34 that is not paid by the date the tax is due shall bear interest as prescribed for interest on delinquent municipal claims under the Act of May 16, 1923 (P.L. 207, No. 153) (53 P.S. § 7101 et seq.), as amended, known as the "Municipal Claims and Tax Liens Act." The interest rate shall be the lesser of the interest rate imposed upon delinquent Commonwealth taxes as provided in Section 806 of the Act of April 9, 1929 (P.L. 343, No. 176) (72 P.S. § 806), as amended, known as the "Fiscal Code," or the maximum interest rate permitted under the Municipal Claims and Tax Liens Act for tax claims.
The provisions of this article shall become
effective on the date that this article is passed and shall be applicable
to any document made, executed, delivered, accepted or presented for
recording on or after such date.
