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 or persons, by his or their 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 and no/100ths ($100.00) Dollars a tax at the rate of twenty-seven and one-half (27-1/2¢) cents for each Five Hundred and no/ 100ths ($500.00) Dollars, or fractional part thereof.
(§ 2, Ord. 157)
Statutory reference:
Authority, see California Revenue and Taxation Code § 11911
Authority, see California Revenue and Taxation Code § 11911