Arcadia Municipal Code Div. 2 Imposition and Rate

A tax is hereby imposed upon every transfer of real property located in the City of Arcadia at the rate of one and one-fourth percent (1.25%) of the Assessed Valuation of the real property transferred.

(Amended by Ord. 1357 adopted 8-1-67; amended by Ord. 1357-A adopted 8-15-67)

Any person who is a party to a transfer and any person for whose benefit a transfer is made or accepted shall be jointly and severally liable for the tax imposed by this Division.

This Division, however, shall not be construed to impose a tax upon a person, or require a tax to be paid by a person if such tax or requirement would be in violation of the Constitution of the United States or that of the State of California.

The Tax imposed by this Division is due and payable at the time a transfer of real property is recorded and shall be delinquent if unpaid at the close of business on the last day of the month following the month during which the document of transfer is recorded by the County Recorder. In the event the tax is not paid prior to becoming delinquent, a delinquency penalty of fifty percent (50%) of the amount of tax due shall accrue. In the event a portion of the tax is unpaid prior to becoming delinquent, the penalty shall accrue only as to the portion remaining unpaid. An additional penalty of fifty percent (50%) shall accrue if the tax remains unpaid at the close of business on the last day of the third month following the date of the original delinquency. Interest shall accrue at the rate of one-half of one percent (.005) a month or fraction thereof on the amount of the tax from the date the tax becomes delinquent to the date of payment. Interest and penalty accrued shall become part of the tax. Amounts of interest and penalty shall be collected by the City Treasurer.

(Amended by Ord. 1357 adopted 8-1-67; amended by Ord. 1357-A adopted 8-15-67)

(Part 8 entitled "Realty Transfer Tax" containing Sections 2681 through 2683.9 added to Chapter 6 of Article II by Ord. 1353 adopted 7-5-67; amended by Ord. 1357 adopted 8-1-67; amended by Ord. 1357-A adopted 8-15-67; amended by Ord. 1355 adopted 8-5-67; effective 9-1-67)

(PART 8 OF CHAPTER 6 OF ARTICLE II IS SUSPENDED THROUGHOUT THE EFFECTIVE PERIOD OF PART 9 added by Ord. 1367 adopted 11-29-67)