REAL PROPERTY TRANSFER TAX

§ 37.50 TITLE.

   (A)   The ordinance codified in this subchapter shall be known as the “Real Property Transfer Tax Ordinance of the city.”

   (B)   It is adopted pursuant to the authority contained in Cal. Rev. & Tax. Code §§ 11901 et seq.

('81 Code, § 3.16.010)

Statutory reference:

   Real property transfer tax, see Cal. Rev. & Tax. Code §§ 11901 et seq.

§ 37.51 IMPOSITION OF TAX; PAYMENT.

   (A)   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 value of any lien or encumbrances remaining thereon at the time of sale) exceeds $100, a tax at the rate of $0.275 for each $500 or fractional part thereof.

('81 Code, § 3.16.020)

   (B)   Any tax imposed pursuant to division (A) of this section 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.

('81 Code, § 3.16.030)

§ 37.52 EXEMPTIONS FROM TAX.

   (A)   Instruments to secure debts. Any tax imposed pursuant to this subchapter shall not apply to any instrument in writing given to secure a debt.

('81 Code, § 3.16.040)

   (B)   Public agencies. The United States or any agency or instrumentality thereof, any state or territory or political subdivision thereof, or the District of Columbia shall not be liable for any tax imposed pursuant to this subchapter with respect to any deed, instrument or writing to which it is a party, but the tax may be collected by assessment from any other party liable therefor.

('81 Code, § 3.16.050)

   (C)   Plans of reorganization or adjustment.

      (1)   Any tax imposed pursuant to this subchapter shall not apply to the making, delivering or filing of conveyances to make effective any plan or 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 corpora-tion, as defined in subdivision (m) of § 205 of Title 11 of the United States Code, as amended;

         (c)   Approved in an equity receivership proceeding in a court involving a corporation, as defined in subdivision (3) of § 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.

      (2)   Subdivisions (a) through (d) of sub-division (1) shall only apply if the making, delivery or filing of instruments of transfer or conveyances occurs within five years from the date of such confirmation, approval or change.

('81 Code, § 3.16.060)

   (D)   Orders of Securities and Exchange Commission. Any tax imposed pursuant to this subchapter 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 § 1083 of the Internal Revenue Code of 1954; but only if:

      (1)   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 15 USC 79k relating to the Public Utility Holding Company Act of 1935;

      (2)   Such order specifies the property which is ordered to be conveyed;

      (3)   Such conveyance is made in obedience to such order.

('81 Code, § 3.16.070)

   (E)   Partnership.

      (1)   In the case of any realty held by a partnership, no levy shall be imposed pursuant to this subchapter by reason of any transfer of an interest in a partnership or otherwise, if such partnership (or another partnership) is considered a continuing partnership within the meaning of § 708 of the Internal Revenue Code of 1954. For purposes of this subchapter, such partnership shall be treated as having executed an instrument whereby there was conveyed, for fair market value (exclusive of the value of any lien or encumbrance remaining thereon), all realty held by such partnership at the time of such termination.

      (2)   Not more than one tax shall be imposed pursuant to this subchapter by reason of a termination described in subdivision (1) of this division, and any transfer pursuant thereto, with respect to the realty held by such partnership at the time of such termination.

('81 Code, § 3.16.080)

   (F)   Other exemptions. The exemptions set forth in Cal. Rev. & Tax. Code §§ 11921 through 11929 shall apply.

§ 37.53 ADMINISTRATION.

   The County Recorder shall administer this subchapter in conformity with the provisions of Cal. Rev. & Tax. Code §§ 11901 et seq. and the provisions of any county ordinance adopted pursuant thereto.

('81 Code, § 3.16.090)