CHAPTER 12
REAL PROPERTY TRANSFER TAX

SECTION:

4-12-1: Short Title

4-12-2: Tax Imposed

4-12-3: Tax Paid By Whom

4-12-4: Exemptions; Exceptions

4-12-5: Partnerships

4-12-6: Duties Of County Recorder

4-12-7: Claims For Refund

4-12-8: Operative Date

4-12-1: SHORT TITLE:

This Chapter shall be known as the "Real Property Transfer Tax Ordinance of the City of Taft". It is adopted pursuant to the authority contained in part 6.7 (commencing with section 11901) of division 2 of the Revenue and Taxation Code of the State of California. (Ord. 334, 12-4-1967)

4-12-2: TAX IMPOSED:

There is hereby 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 by his direction, when the consideration or value of the interest or property conveyed (exclusive of the value of any lien or encumbrances remaining thereon at the time of sale) exceeds one hundred dollars ($100.00), a tax at the rate of twenty seven and one-half cents ($0.275) for each five hundred dollars ($500.00) or fractional part thereof. (Ord. 334, 12-4-1967)