(A) A county tax is imposed on the privilege of transferring title to real estate situated in the county as represented by the deed that is filed for recordation at the rate of $0.25 for each $500 of value or fraction thereof stated in the declaration provided in division (C) below. If, however, the real estate is transferred subject to a mortgage, the amount of the mortgage remaining outstanding at the time of transfer shall not be included in the basis of computing the tax.
(B) Except as provided in division (D) below, no deed shall be accepted for filing by the Recorder of Deeds unless the tax imposed by division (A) above has been paid.
(C) The Recorder of Deeds shall at the time of filing collect the tax. The valuation to be used for the collection of the county tax shall be the same as the valuation used for the collection and imposition of the state real estate transfer tax has been paid in the same amount as shown by the stamps.
(D) The following deeds shall be exempt from this section, except as hereinafter provided:
(1) Deeds representing real estate transfers made before the effective date of this Act, but recorded after the effective date;
(2) Deeds to property acquired by any governmental body or from any governmental body or deeds to property between governmental bodies, or by or from any corporation, society or association, foundation or institution organized and operated exclusively for charitable, religious or education purposes;
(3) Deeds which secure debt or other obligation;
(4) Deeds which, without additional consideration, confirm, correct, modify or supplement a deed previously recorded;
(5) Deeds where the actual consideration is less than $100;
(6) Tax deeds;
(7) Deeds of release of property which is security for a debt or other obligation;
(8) Deeds of partition;
(9) Deeds made pursuant to mergers, consolidations or transfers or sales of substantially all of the assets of corporations pursuant to plans of reorganization;
(10) Deeds made by subsidiary corporation to its parent corporation for no consideration other than the cancellation or surrender of the subsidiary’s stock;
(11) Deeds wherein there is an actual exchange of real estate; except that, the money difference or money’s worth paid from one to the other shall not be exempt from the tax;
(12) Deeds representing transfers subject to the imposition of a documentary stamp tax imposed by the government of the United States; except that, the deeds shall not be exempt from filing the declaration; and
(13) Any future exemptions enacted by the state.
(E) All proceeds resulting from the collection of the tax imposed by this section shall be paid to the County Treasurer by or before the tenth day of each month.
(F) The tax herein imposed shall be in addition to all other occupation or privilege taxes imposed by the state or by any municipal corporation or political subdivision thereof.
(Prior Code, § 36.03) (Ord. passed 6-12-1979)