* For statutory provisions authorizing cities to impose a tax on transfers of real property, see Rev. and Tax. Code §11901 et seq.
Sections:
3.16.010 Purpose.
3.16.015 Definitions.
3.16.020 Imposition of tax – Rate.
3.16.030 Persons on whom tax is imposed.
3.16.035 Due dates, delinquency, penalties and interest.
3.16.040 Exemption – Debt securities.
3.16.045 Exemption – Instrument taken as result of foreclosure.
3.16.050 Exemption – Governmental agencies.
3.16.060 Exemption – Plan of reorganization or adjustment.
3.16.070 Exemption – Conveyances making effective any order of the Securities and Exchange Commission.
3.16.080 Applicability in cases of transfer or termination of partnership.
3.16.085 Exemption – Interspousal transfers.
3.16.090 Administration.
3.16.095 Limitation of actions.
3.16.097 Tax a debt to city.
3.16.100 Refund claims.
As used in this chapter:
A. REAL PROPERTY and REALTY. Real property as defined by and under the laws of the state of California.
B. VALUE OF CONSIDERATION. The total consideration, valued in money of the United States, paid or delivered, or contracted to be paid or delivered in return for the transfer of real property, including the amount of any indebtedness existing immediately prior to the transfer which is secured by a lien, deed of trust, or other encumbrance on the property
conveyed and which continues to be secured by such lien, deed of trust or encumbrance after said transfer, and also including the amount of any indebtedness which is secured by a lien, deed of trust or encumbrance given or placed upon the property in connection with the transfer to secure the payment of the purchase price or any part thereof which remains unpaid at the time of the transfer. Value of the consideration also includes the amount of any special assessment levied or imposed upon the property by a public body, district or agency, where said special assessment is a lien or encumbrance on the property and the purchaser or transferee agrees to pay such special assessment or takes the property subject to the lien of such special assessment. The value of any lien or encumbrance of a type other than those which are hereinabove specifically included, existing immediately prior to the transfer, and remaining after the transfer, shall not be included in determining the value of the consideration. If the value of the consideration cannot be definitely determined, or is left open to be fixed by future contingencies, value of consideration shall be deemed to mean the fair market value of the property at the time of transfer, after deducting the amount of any lien or encumbrance, if any, of a type which would be excluded in determining the value of the consideration pursuant to the above provisions of this section. (Ord. 566 § 2(part), 1994).
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