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HomeMy WebLinkAboutOrdinances_1350_CCv0001.pdf ORDINANCE NO. 1350 AN ORDINANCE OF THE CITY OF REDLANDS IMPOSING A DOCUMENTARY S'T'AMP TAX ON THE SALE OF REAL PROPERTY The City Council of the City of Redlands does ordain as follows SECTION ONE. This ordinance shall be known as the "Real Property Transfer Tax Ordinance of the City of Redlands It is adopted pursuant to the authority contained in Part 607 (commencing with Section 11901) of Division 2 of the Revenue and Taxation Code of the State of California. SECTION TWOg There is hereby imposed on each deed, instrument or writing by which any lands, tenements, or other realty sold within the City of Redlands 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 ($1017) , 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 THREE-. Any tax imposed pursuant 'tb Section 2 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 FOUR.- Any tax imposed pursuant to this ordinance shall not apply to any instrument in writing given to secure a debt. SECTION FIVE. The United States or any agency or instrumentality thereof, any state or territory, or political subdivision thereof, or the District of Columbia shall not be liable for any tax imposed pur- suant 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 SIX-. 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 which has been (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; (c) Approved in an equity re- ceivership proceeding in a court involving a corporation, as defined in subdivision (3) of Section 506 of Title 11 of the United States Code, 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 confir- mation, approval or change. SECTION SEVEN-. Any tax imposed pursuant to this ordinance shall not apply to the making or delivery of conveyances to make effective any order of the Securitites 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 Securit*es 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 EIGHT2 (a) in the case of any realty held by partnership, no tax shall be imposed pursuant to this ordinance by reason of any trans.fer 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, 108 of -the Internal Revenue Code of 19548 and (2) Such continuing partnership continues to hold the realty concerned. (b) If there is a termination of any partnership within the mean- ing 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 deAcribed in subdivision (b) , and any transfer pursuant thereto, with respect to the realty held by such partnership at the time of such termination. SECTION NINE.- The County Recorder shall administer this ordinance in conformity with the provisions of Part 6.7 of Division 2 of the Rovenue and Taxation Code and the provisions of any county ordinance adopted pursuant thereto. SECTION TEN-. Cl0ims for refund of taxes imposed pursuant to this ordinance shall be governed by the provisions oUChapter 5 (commencing with Section 5096) of dart 9 of Division I of the' Revenue and Taxation Code of the State of California. Ordinance No. 1350 - 2 x SECTION ELEVEN-. This ordinance shall become operative upon the operative date of any ordinance adapted by the County of San Bernardino, pursuant to Fart 6e7 (commencing with Section 11501) of Division 2 of the Revenue and Taxati6n Cade of the State of California, or upon the effective date of this ordinance, whichever is the latera SECTION TWELVE-. Upon its adoption the City. Clerk shall, file two copses of this ordinance with the County Recorder of San Bernardino County. SECTION THIRTEEN This ordinance, inasmuch as it provides for a tax levy for the usual and current expenses of the city, shall take effect immediately. SECTION FOURTEEN2 The City Clerk shall certify to the passage of this ordinance and shall cause satne to be published once in the Redlands Daily Facts, the newspaper hereby designated for that purposed This ordinance shall take effect and be in force after its passage as provided by law. ,ATTEST- 7:7 LAA-0 taZCit rk Mayor of the City ofURedlands APPROVED FOR FORMt sZ Edward F. Taylor= . City Attorney I, PeggyAo Mosel.ey,City Clerk, City of Redlands, hereby certify that the foregoing ordinance was adapted by. the City Council of the City of Redlands, at a regular meeting thereof field Qn the 19th day Of December , 1967, by the following vote'p AYES- Councilmen Martinez, Hartzell, Cummings, DeMi.rjyn, Mayor Burroughs NOES- None ABSENT- None 3 Cat rk Ordinance No. 1350 - 3 -