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HomeMy WebLinkAbout596 Documentary Tax on Deedsl-~ ORDINANCE N0. 596 AN ORDINANCE IMPOSING A DOCUMENTARY STAMP TP.X ON EACH DEED, INSTRUMENT OR WRITING BY WHICH LAND, TENEMENTS OR REALTY SOLD WITHIN THE CITY OF UKIAH IS GRANTED, ASSIGNED, TRANSFERRED OR OTHERWISE CONVEY- ED TO OR VESTED IN THE PURCHASER OR PURCHASERS OR ANY OTHER PERSON OR PERSONS The City Council of the City of Ukiah hereby ORDAINS: SECTION 1. ADOPTION OF CHAPTER 8b OF DIVISION I OF THE UKIAH CITY CODE RELATING TO DOCUMENTARY STAMP TAX. There is hereby adopted as a part of Ukiah City Code to be designated as Chapter 8b imposing a documentary stamp tax on transfers of real property. Said chapter reads as follows: Chapter 8b - Real Property Transfer Tax Article 1 Transfer Tax SECTION 1770. TITLE. This ordinance shall be known as the "Real Property Transfer Tax Ordinance of the City of Ukiah". 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. SECTION 1771. SCOPE OF TAX. There is hereby imposed on each deed, instrument or writing by which any lands, tenements, or other realty sold within the City of Ukiah 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 dollars ($100), a tax at the rate of twenty-seven and one-half cents ($0.275) for each five hundred dollars ($500) or fractional part thereof. SECTION 1772. TAX LIABILITY. Any tax imposed pursuant to Section 1771 hereof shall be paid by any person who makes, signs or issues any document or instru- ment subject to the tax, or for whose use or benefit the same is made, signed or issued. SECTION 1775. TO SECURE P. DEBT ARTICLE 17 EXEMPTIONS Any tax imposed pursuant to this ordinance ~l shall not apply to any instrument in writing given to secure a debt. SECTION 1775. POLITICAL ENTITY. The United States or any agency or instrument- ality 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 ordinance 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. SECTION 1777. BANKRUPTCY. Any tax imposed pursuant to this ordinance shall not apply to the making, delivering or filing of conveyances to make effective any plan of 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 corporation, as defined in subdivision (m) of section 205 of Title 11 of the United States Code, as amended; or (c) Approved in an equity receivership proceeding in a court involving a corporation, as defined in subdivision (3) of Section 506 of Title 11 of the United States Lode, as amended; or (d) Whereby a mere change in identity, form or place of organization is effected. Subdivisions (a) to (d) inclusive, of this section 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. SECTION 1778. SECURITIES AND EXCHANGE COMMISSION. Any tax imposed pursuant to this ordinance 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 Section 1083 of the Internal Revenue Code of 1954; but only if -- (a) 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 Section 79k of Title 15 of the United States Code, relating to the Public Utility Holding Company Act of 1935; (b) Such order specifies the property which is ordered to be conveyed; (c) Such conveyance is made in obedience to such order. SECTION 1779. PARTNERSHIP. (a) In the case of any realty held by a partnership, no levy shall be imposed pursuant to this ordinance by reason of any transfer ~~ of an interest in a partnership or otherwise, if-- (1) Such partnership (or another partnership) is considered a continuing partnership within the meaning of Section 708 of the Internal Revenue Code of 1954; and (2) Such continuing partnership continues to hold the realty concerned. (b) If there is a termination of any partnership within the meaning of Section 708 of the Internal Revenue Code of 1954, for purposes of this ordinance, 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. (c) Not more than one tax shall be imposed pursuant to this ordinance by reason of a termination described in subdivision (b), and any transfer pursuant thereto, with respect to the realty held by such partnership at the time of such termination. ARTICLE III ADMINISTRATION SECTION 1782. COUNTY RECORDER. The County Recorder shall administer this ordinance in conformity with the provisions of Part 6.7 of Division 2 of the Revenue and Taxation Code and the provisions of any county ordinance adopted pursuant thereto. SECTION 1783. REFUNDS. Claims for refund of taxes imposed pursuant to this ordinance shall be governed by the provisions of Chapter 5 (commencing with Section 5096) of Part 9 of Division 1 of the Revenue and Taxation Code of the State of California. SECTION 1784. OPERATIVE DPTE. This ordinance shall become operative upon the operative date of any ordinance adopted by the County of Mendocino, pur- suant to Part 6.7 (commencing with Section 11901) of Division 2 of the Revenue and Taxation Code of the State of California, or upon the effective date of this ordinance, whichever is the later. SECTION 1785. RECORDING. Upon its adoption the City Clerk shall file twv copies of this ordinance with the County Recorder of Mendocino County. SECTION 2. PUBLICATION; EFFECTIVE DATE. This ordinance shall be published as required by law in the Ukiah Daily Journal. It shall be effective thirty days after the date of its adoption. `>~~ PASSED AND PDOPTED this 30th day of November, 1967, by the following vote: AYES: Councilmen Crook, Harlowe and Vice Mayor Scotto NOES: None ABSENT: Councilman Henderson and Mayor Norgard s/ Donald K. Scotto VICE-MAYOR ATTEST: s/ Dorothy Begley DEPUTY CITY CLERK CERTIFICPTION I, Hattie M. Tillotson, City Clerk of the City of Ukiah and ex officio clerk of the City Council, do hereby certify the foregoing to be a true copy of Ordinance No. 596 adopted by the said City of Ukiah ity Council at a regular meeting thereof on the ~„ f-t; day of ~, 19~. ~r~G'~ liZ ~7~~..~r~ City Clerk of the City of Ukiah, California