(a) Every person who makes, executes, delivers, accepts or presents for recording any document, or in whose behalf any document is made, executed, delivered, accepted or presented for recording, shall be subject to pay, for and in respect to the transaction or any part thereof, a tax at the rate of two percent of the value of the real estate represented by such document, which tax shall be payable at the time the document is presented for recording, or within thirty days of acceptance of such document, or within thirty days of becoming an acquired company, whichever first occurs.
(b) The payment of the tax imposed in this chapter shall be evidenced by the affixing of an official stamp or writing by the Recorder of Deeds whereon the date of the payment of the tax, the amount of the tax and the signature of the collecting agent shall be set forth.
(c) It is the intent of this chapter that the entire burden of such tax on a person or transfer shall not violate the provisions prescribed in the Local Tax Enabling Act, being the Act of December 31, 1965, P.L. 1257, 53 P.S., Sections 6901 et seq., as amended, so that if any other political subdivision has imposed or hereafter imposes such tax on the same person or transfer, then the tax levied by the City under the authority of such Act shall, during the time such duplication of the tax exists, except as hereinafter otherwise provided, be one percent of the value of the real estate presented by such document and such rate shall become effective without any action on the part of the City. However, the City and any other political subdivision which imposes such tax on the same person or transfer may agree that, instead of limiting their respective rates as herein provided, they will impose, respectively, different rates, the total of which rates shall not exceed the maximum rate permitted under this section.
(d) Any tax imposed under this section that is not paid by the date the tax is due shall bear interest as prescribed for interest on delinquent municipal claims under the Act of May 16, 1923 (P.L. 207, No. 153) (53 P.S. §§ 7101, et seq.), as amended, known as "The Municipal Claims and Tax Liens Act". The interest rate shall be the lesser of the interest rate imposed upon delinquent Commonwealth taxes as provided in Section 806 of the Act of April 9, 1929 (P.L. 343, No. 176) (72 P.S. § 806), as amended, known as "The Fiscal Code" or the maximum interest rate permitted under the Municipal Claims and Tax Liens Act for tax claims.
(Ord. 1-87. Passed 2-12-87; Ord. 14-07. Passed 8-16-07; Ord. 15-14. Passed 12-18-14; Ord. 12-17. Passed 12-21-17.)