Benicia Municipal Code Ch. 3.16 Real Property Transfer Tax

[1]

For statutory provisions authorizing cities to impose a tax on transfers of real property, see Revenue and Taxation Code § 11901 et seq.

This chapter may be cited as the "real property transfer tax ordinance of the city of Benicia." It is adopted under the authority of Part 6.7 of Division 2 of the Revenue and Taxation Code of the state, beginning with Section 11901.

(Prior code § 11-301)

There is imposed on each instrument or writing by which land, tenement or other realty sold within the city is transferred or conveyed to the purchaser or other grantee when the consideration or value of the interest conveyed, exclusive of the value of an encumbrance remaining at the time of sale, exceeds $100.00, a tax at the rate of $0.275 for each $500.00 or fractional part of $500.00.

(Prior code § 11-302)

The tax imposed under BMC § 3.16.020 shall be paid by the person who makes, signs or issues the instrument subject to the tax, or for whose use or benefit the instrument is made, signed or issued.

(Prior code § 11-303)

The tax imposed does not apply to an instrument in writing given to secure a debt.

(Prior code § 11-304)

Any deed, instrument or writing to which the United States or any agency or instrumentality thereof, any state or territory, or political subdivision thereof, is a party shall be exempt from any tax imposed pursuant to this chapter when the exempt agency is acquiring title.

(Prior code § 11-305; amended during 1980 codification)

The tax imposed does not apply to a conveyance to make effective a plan of reorganization or adjustment:

A. Confirmed under the federal Bankruptcy Act;

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 receivership 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.

This section applies only if the filing of instrument of transfer or conveyance occurs within five years from the date of confirmation, approval or change.

(Prior code § 11-306)

The tax does not apply to the making of conveyances to make effective an order of the Securities and Exchange Commission, as defined in subdivision (a) of Section 1083 of the Internal Revenue Code of 1954 if:

A. The order of the Securities and Exchange Commission recites that the conveyance is necessary or appropriate to carry out Section 79k of Title 15 of the United States Code, relating to the Public Utility Holding Company Act of 1935; and

B. The order specifies the property which is ordered to be conveyed.

(Prior code § 11-307)

A. In the case of realty held by a partnership, no levy is imposed by reason of transfer of an interest in a partnership if:

1. The partnership is a continuing partnership within the meaning of Section 708 of the Internal Revenue Code of 1954; and

2. The continuing partnership continues to hold the realty concerned.

B. If there is a termination of a partnership within the meaning of Section 708 of the Internal Revenue Code of 1954, for purposes of this chapter the partnership shall be treated as having executed an instrument whereby there was conveyed for fair market value, exclusive of the land value of an encumbrance remaining, all realty held by the partnership at the time of termination.

C. Not more than one tax may be imposed by reason of a termination described in subsection (B) of this section, and any transfer pursuant to it, with respect to the realty held by the partnership at the time of termination.

(Prior code § 11-308)

Any tax imposed pursuant to this chapter shall not apply with respect to any deed, instrument, or writing to a beneficiary or mortgagee, which is taken from the mortgagor or trustor as a result of or in lieu of foreclosure; provided, that such tax shall apply to the extent that the consideration exceeds that unpaid debt, including accrued interest and cost of foreclosure.

(Prior code § 11-308.5; added during 1980 codification)

The county recorder shall administer this chapter in conformity with Part 6.7 of Division 2 of the Revenue and Taxation Code and any county ordinance adopted pursuant to it.

(Prior code § 11-309)

A claim for refund of the tax imposed is governed by Chapter 5 of Part 9 of Division 1 of the Revenue and Taxation Code of the state, beginning with Section 5096.

(Prior code § 11-310)