Sections:
3.16.010 Purpose.
3.16.020 Imposition of tax.
3.16.030 Definitions.
3.16.040 Persons on whom tax imposed.
3.16.050 Exceptions.
3.16.060 Administration of tax.
3.16.070 Due dates-Delinquencies-Penalties-Interest.
3.16.080 Declaration may be required.
3.16.090 Determination of deficiency.
3.16.100 Notice of determination.
3.16.110 Manner of giving notice.
3.16.120 Petition for redetermination.
3.16.130 Consideration of petition-Hearing.
3.16.140 Determination of petition.
3.16.150 Finality of determination.
3.16.160 Tax a debt.
3.16.170 Refunds.
There is imposed a tax on all transfers by deeds, instruments, writings or any other document by which any lands, tenements or other interests in real property sold, located in the city, are or is granted, assigned, transferred or otherwise conveyed to or vested in a purchaser, or purchasers thereof, or any other person or persons, by his or their direction. Said tax shall be levied at the rate of .00275 of the value of consideration. (Prior code § 41.09.128)
As used in this chapter, the following definitions apply:
"Director" means the city's director of finance or designee.
"Real property" and "realty" mean "real property" as defined by and under the laws of the state of California.
"Value of consideration" means 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 transfer.
"Value of 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 said 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 the 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. 2018-0048 § 1; prior code § 41.09.129)
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