Bishop Municipal Code Ch. 3.16 Real Property Transfer Tax

The ordinance from which this chapter is derived is adopted pursuant to the authority contained in the Documentary Transfer Tax Act, Revenue and Taxation Code § 11901 et seq.

(Prior Code, § 18-35; Code 1985, § 3.16.010)

There is 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, by 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 $100.00 a tax at the rate of $0.275 for each $500.00 or fractional part thereof.

(Prior Code, § 18-36; Code 1985, § 3.16.020)

Any tax imposed pursuant to section 3.16.020 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.

(Prior Code, § 18-37; Code 1985, § 3.16.030)

Any tax imposed pursuant to this chapter shall not apply to any instrument in writing given to secure a debt.

(Prior Code, § 18-38; Code 1985, § 3.16.040)

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.

(Prior Code, § 18-39; Code 1985, § 3.16.050)

A. 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:

1. Confirmed under the Federal Bankruptcy Act, 11 USC 101 et seq.;

2. Approved in an equity receivership proceeding in a court involving a railroad corporation, as defined in 11 USC 205(m);

3. Approved in an equity receivership proceeding in a court involving a corporation, as defined in 11 USC 506(3); or

4. Whereby a mere change in identity, form or place of organization is affected.

B. 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 confirmation, approval or change.

(Prior Code, § 18-40; Code 1985, § 3.16.060)

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 Internal Revenue Code of 1954, 26 USC 1083(a); but only if:

A. The order of the Securities and Exchange Commission in obedience to which such conveyance is made recites that such conveyance is necessary or appropriate to effectuate the provisions of 15 USC 79k, 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.

(Prior Code, § 18-41; Code 1985, § 3.16.070)

A. In the case of any realty held by a partnership, no levy shall be imposed pursuant to this chapter 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 Internal Revenue Code of 1954, 26 USC 708; and

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

B. If there is a termination of any partnership within the meaning of Internal Revenue Code of 1954, 26 USC 708, for purposes of this chapter, 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 chapter by reason of a termination described in subsection B of this section, and any transfer pursuant thereto, with respect to the realty held by such partnership at the time of such termination.

(Prior Code, § 18-42; Code 1985, § 3.16.080)

The county recorder shall administer this chapter in conformity with the provisions of the Documentary Transfer Tax Act, Revenue and Taxation Code § 11901 et seq., and the provisions of any county ordinance adopted pursuant thereto.

(Prior Code, § 18-43; Code 1985, § 3.16.090)

Claims for refund of taxes imposed pursuant to this chapter shall be governed by the provisions of Revenue and Taxation Code § 5096 et seq.

(Prior Code, § 18-44; Code 1985, § 3.16.100)

This chapter shall become operative upon the operative date of any ordinance adopted by the county, pursuant to the Documentary Transfer Tax Act, Revenue and Taxation Code § 11901 et seq. or upon the effective date of the ordinance from which this chapter is derived, whichever is the later.

(Prior Code, § 18-45; Code 1985, § 3.16.110)