HomeMy WebLinkAboutORD 11ORDINANCE NO. 11
AN ORDINANCE OF THE CITY OF PALM DESERT,
CALIFORNIA, ESTABLISHING REAL PROPERTY
DOCUMENTARY TRANSFER TAX.
i The City Council of the City of Palm Desert, Cali-
6 fornia, DOES HEREBY ORDAIN as followas
T SECTION is SHORT TITLE - ADOPTION.
This chapter shall be knows as the "real property
9 transfer tax ordinance of the City of Palm Desert". It is
to adopted pursuant to the authority contained in Part 6.7
11 (comencing with Section 11901) of Division 2 of the Revenue
12 and Taxation Code of the State of California.
1a SECTION 2: IMPOSITION - RATES.
141
There is imposed on each deed, instrument, or
1s writing by which any lands, tenements, or other realty sold
16 within the city shall be granted, assigned, transferred, or
17,t c :ierwise conveyed to, or vested in, the purchaser or pur-
chasers, or any other person or persons, by his or their
action, when the consideration or value of the interest
2D
c_ property conveyed (exclusive of the value of any lien
=1' or encumbrances remaining thereon at the time of sale) ex-
22 ceeds one hundred dollars, a tax at the rate of twenty-
23 seven and one-half cents for each five hundred dollars or
24 fractional part thereof.
25 SECTION 3s PAYMENT.
26 Any tax imposed pursuant to Section 2 shall be
21 paid by any person who makes, signs, or issues any document
26 or instrument subject to the tax, or for whose use or benefit
2P the same is made, signed, or issued.
s0 SECTION 4s TAX INAPPLICABLE TO INSTRUMENTS
31 IN WRITING TO SECURE DEBTS.
M Any tax imposed pursuant to this chapter shall
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not apply to any instrument in writing given to secure a
debt.
SECTION St GOVERNMENT AND ITS AGENCIES NOT LIABLE.
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.
SECTION 6: TAX INAPPLICABLE TO CONVEYANCES TO
MAKE EFFECTIVE PLAN OF REORGANIZATION
OR ADJUSTMENT.
Any tax imposed pursuant to ;;his chapter shall
mac= alp to the making, delivering or filing of conveyances
effective any plan of reorganization or adjustment:
1. Confirmed under the Federal Bankruptcy Act,
of =-a-==_;
2. Approved in an equity receivership proceeding
-- -= involving a railroad corporation, as defined in
_...a (m) of Section 205 of Title 11 of the United
==s= =cce, as amended; or
3. Approved in an equity receivership proceeding
involving a corporation, as defined in subdivision
:s Section 506 of Title 11 of the United States Code,
as 9=4ed; or
4. Whereby a mere change in identity, form or
p_a:e o= organization is affected.
Subdivisions 1 to 4, inclusive, of this section
shall only apply if the making, delivery or filing of in-
struments of transfer or conveyances occurs within five
years from the date of such confirmation, approval or change.
SECTION 7t TAX INAPPLICABLE TO MMM EFFECTIVE
ORDER OF SECURITIES AND EXCHANGE
COMMISSION.
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
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ORD. 11
1
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1 Rwenue Code of 19541 but only if r
= 1. The order of the Securities ar.d Exchange
Commission in obedience to which such conveyance is made
i recites that such conveyance is necessary or appropriate
to effectuate the provisions of Section 79k of Title 15 of
4 the United States Code, relating to the Public Utility
Holding Company Act of 1935;
8 2. Such order specifies the property which is
ordered to be conveyed;
6 3. Such conveyance is made in obedience to such
order.
• SECTION St PARTNERS'• T.PS .
9 A. In the case of any realty held by a partner-
10 ship, no levy shall be imposed pursuant to this chapter by
11 reason of any transfer of an interest in a partnership or
12 otherwise, if t
is 1. Such partnership (or another partnership) is
considered a continuing partnership within the meaning of
14 Section 708 of the Internal Revenue Code of 1954; and
2. Such continuing partnership continues to
13 hold the realty concerned.
IS B. If there is a termination of any partnership
-thin the meaning of Section 709 of the Internal Revenue
:s Z:4e of 1954, for purposes of this ordinance, such partner-
.
29 ! ship shall be treated as having executed an instrument
20 whereby there was conveyed, for fair market value (exclusive
21 of the value of any lien or encumbrance remaining thereon),
22 all realty held by such partnership at the time of such
43 termination.
24 C. Not more than one tax shall be imposed pursu-
2S ant to this ordinance by reason of a termination described
26 in subdivision 8 hereof, and any transfer pursuant thereto,
21 with respect to the realty held by such partnership at the
24 time of such termination.
29 SECTION 9t ADMINISTRATION.
so The county recorder shall administer this chapter
$i in conformity with the provisions of Part (.7 of Division 2
82 of the Revenue and Taxation Code and the provisions of any
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ORD. 11
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county ordinance adopted pursuant thereto.
SECTION 101 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 Revenue and Taxation Code of the state of California.
SECTION llt EFFECTIVE DATE.
This ordinance relates to taxes for the usual and
current expenses of the city and :shall take effect inme-
diately. Prior to the expiration of fifteen (15) days from
the passage hereof, copies shall be posted in three public
places within the city limits of Palm Desert, as prescribed
in Resolution No. 73-4, and in accordance with the provisions
of Section 36933 of the Government Code of the state of
PASSED, APPROVED and ADOPTED by the City Council
-_s :_-- day of November. 1973, by the following vote:
AYES: Mayor Clark, Councilwoman Renson,
Councilmen Aston, Brush, McPherson
NOES: None
ABSENT: None
Bel S. Clark, yor
S. s
�. R. Asmua city Clerk
City of Palm Desert, California
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ORD. 11