Pursuant to the authority of Section 11901 et seq. of the Revenue and Taxation Code, there is hereby imposed on each deed, instrument or writing by which any lands, tenements, or other realty sold within the Town 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 any lien or encumbrance remaining thereon at the time of sale exceeds one hundred ($100.00) dollars, a tax at the rate of twenty-seven and one-half ($0.275) cents for each five hundred ($500.00) dollars or fractional part thereof. (Ord. #6, §2; Ord. #12, §7)