On and after the effective date of this subchapter, a tax for general borough revenue purposes is levied, assessed and imposed at the rate of 1% of the value, or the sum of $1 on every $100 of the total value, or fraction thereof for the remainder of the calendar year 1968, upon the transfer of real property, or of any interest in real property, situated within the borough, provided that where any lands, tenements or hereditaments, or any interest therein, are located partly within and partly without the territorial limits of the borough, such tax shall be levied and assessed only upon the value of that portion of such lands, tenements or hereditaments or interest therein, which lies within the boundaries of the borough.
(Ord. 51-1968, passed 2-5-1968)