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HomeMy WebLinkAboutOrdinance 043 r, r ORDINANCE NO. 43 AN ORDINANCE OF THE CITY OF ATASCADERO CREATING CHAPTER 2 TO TITLE 3 OF THE ATASCADERO MUNICIPAL CODE , ENTITLED REAL PROPERTY TRANSFER TAX i The Council of the City of Atascadero ordains as follows : Section 1 . Chapter 2 of Title 3 is added to the Atascadero Muni- cipal Code to read as follows: rTITLE 3. FINANCE Chapter 2. Real Property Transfer Tax ' 3-2. 101 . Short title. This chapter shall be known as the "Real Property Transfer Tax ' Regulations of the City of Atascadero. " It is adopted pursuant to the authority contained in Part 6 .7 (commencing with Section 11901 ) of Division 2 of the State Revenue and Taxation Code. 3-2. 102 . 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 or persons, by ' his or their direction , when the consideration or value of the inter- or property conveyed (exclusive of the value of any lien or encum- brances remaining thereon at the time of sale) exceeds one hundred dollars($100 .00) , a tax at the rate of twenty-seven and one-half cents ' ($ .275) for each five hundred dollars ($500 .00) or fractional part thereof. ' 3-2 . 103 . Paid by whom. Any tax imposed pursuant to Section 3-2 . 102 shall be paid by any person who makes, signs or issues any document or instrument subject to the tax , or for whose use or benefit the same is made , signed or issued. ' 3-2. 104 . Securing debt exempt. Any tax imposed pursuant to this chapter shall not apply to any instrument in writing given to secure a debt. 3-2. 105 . Governmental agencies exempt . ' 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 pursuant to this chapter 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. 1 �_ Ordinance No. 43 - Ramal Property Transer Tax 3-2. 106. Reorganization or adjustment exempt. ' Any tax imposed pursuant to this chapter 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 in- volving 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 receivership Proceeding in a court in- volving a corporation, as defined in subdivision (3) of Sec- tion 506 of Title 11 of the United States Code , as amended; or (d) Whereby a mere change in identity, form or place of organiza- tion 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 confirma- tion , approval or change. 3-2. 107 . Securities and exchange commission orders exempt . Any tax imposed pursuant to this chapter 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 1953; but only if: (a) The order of the securities and exchange commission in obedi- ence to which such conveyance is made recites that such con- veyance isnecessaryor appropriate to effectuate the provi- sions 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 con- veyed. (c) Such conveyance is made in obedience to such order . 3-2. 108. Partnerships exempt. (a) In the case of any realty held by a partnership, no levey shall be imposed pursuant to this 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 Ordinance No. 41 - R91 Property Transer Tax (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 the purposes of this ordinance , such partnership shall be treated as having executed an intrument whereby there was conveyed , for fair market value (exclusive of the value of ' any lien or encumbrance remaining thereof) , all realty held by such partnership at the time of such termination . (c) Not more than one tax shall be imposed pursuant to this ordi- nance 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 termina- tion. 3-2. 109. County recorder duties. The county recorder shall administer this chapter in conformity with the provisions of Part 6.7 of Division 2 of the State Revenue and Taxation Code and the provisions of any county ordinance adopted pur- suant thereto. 3-2 . 110 . Claims for refund . Claims for refund of taxes imposed pursuant to this Chapter shall be governed by the provisions of Chapter 5 (commencing with Section 5096) of Part 9 of Division 1 of the State Revenue and Taxation Code . -2. 111 . 3 Filing. �� Upon its adoption the City Clerk shall file two copies of this chapter with the County recorder of San Luis Obispo County. ' Section 2. The City Clerk shall cause this ordinance to be pub- lshed once within fifteen ( 15) days after its passage in the Atasca- dero News , a newspaper of general circulation printed , published and circulated in the City in accordance with Section 36933 of the Govern- ment Code; shall certify the adoption of this ordinance and shall cause this ordinance and this certification to be entered into the Book of Ordinances of this City. Section 3 . This ordinance shall go into effect and be in full force and effect at 12:01 a.m. on the 31st day after its passage. The foregoing ordinance was introduced on September 28, 1981 and adopted at a regular meeting of the Council held on October 12, 1981 AYES: Councilmen Highland, Mackey, Nelson, Stover and Mayor Wilkins NOES: None ABSENT: None 1 3 Ordinance No. 43 -, R'pal Property Transer Tax 1 ROBERT , . , a or ATTEST: 1 ' RRA L. WARDEN, City Nanager APPROVED AS TO FORM: ALLEN GRIMES, City Attorney l i 1 I 1 1 1 1 t CERTIFICATION I hereby certify that the foregoing is a full, true, ' and correct copy of Ordinance No. 43 passed by the Atascadero City Council at its regular Council meeting held on October 12, 1981 Mtjff�my L. RDEN, City Clerk Ci y of tascadero, California