Sections:
3.35.010 Short title - Adoption
3.35.020 Imposition - Rates
3.35.030 Payment
3.35.040 Tax Inapplicable to Instruments in Writing to Secure Debts
3.35.050 Government and Its Agencies Not Liable
3.35.060 Tax Inapplicable to Conveyances to Make Effective Plan of Reorganization or Adjustment
3.35.070 Tax Inapplicable to Make Effective Order of Securities and Exchange Commission
3.35.080 Partnerships
3.35.090 Tax Roll Parcel Number Requirements
3.35.100 Administration
3.35.110 Claims for Refund
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 ($100.00), a tax at the rate of twenty-seven and one-half cents (27.5¢) for each five hundred dollars ($500.00) or fractional part thereof.
[Ord. No. 461, Section 3, 5/9/07.]
Any tax imposed pursuant to Section 3.35.020 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.
[Ord. No. 461, Section 3, 5/9/07.]
Any deed, instrument or writing to which the United States or any agency or instrumentality thereof, or 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, as provided in Revenue and Taxation Code Section 11922.
[Ord. No. 461, Section 3, 5/9/07.]
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; or
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.
Subdivisions A. through D., inclusive, of this Section shall only apply if the making, delivery or filing of instruments of transfer or conveyances occurs within five (5) years from the date of such confirmation, approval or change.
[Ord. No. 461, Section 3, 5/9/07.]
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.
[Ord. No. 461, Section 3, 5/9/07.]
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