Isleton Municipal Code Ch. 3.32 Documentary Transfer Tax

This section is adopted pursuant to authority contained in Part 6.7 (commencing with section 119010 of division 2 of the California Revenue and Taxation Code.

(Ord. No. 380)

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, persons, by his or 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.

(Ord. No. 380)

Any tax imposed pursuant to section 3.32.020 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.

(Ord. No. 380)

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

(Ord. No. 380)

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 Code 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 thereof.

(Ord. No. 380)

Any tax imposed pursuant to this chapter shall not apply to the making, delivering or filing of conveyances to make effective any plan or reorganization or adjustment:

A. Confirmed under the Federal Bankruptcy Act, as amended;

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; or

C. Approved in any equity receivership proceeding in a court involving a railroad 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.

Subdivision 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 confirmation, approval or change.

(Ord. No. 380)

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 § 1083 if the Internal Revenue Code of 1954; 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 § 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 conveyed;

C. Such conveyance is made in obedience to such order.

(Ord. No. 380)

A. In the case of any reality held by a partnership, no levy shall be imposed pursuant to the 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 section 708 of the Internal Revenue Code of 1954; and

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

B. If there is a termination of any partnership within the meaning of section 708 of the Internal Revenue Code of 1954, for the 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 a county or city 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 termination.

(Ord. No. 380)

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 unpaid debt, including accrued interest and cost of foreclosure. Consideration, unpaid debt amount and identification or grantee as beneficiary or mortgagee shall be noted on said deed, instrument or writing or stated in an affidavit or declaration under penalty of perjury for tax purposes.

(Ord. No. 380)

Any tax imposed pursuant to this chapter shall not apply with respect to any deed, instrument, or writing which purports to transfer, divide or allocate community; quasi-community or quasi-marital property assets between spouses for the purpose of effecting a division of community, quasi-community or quasi marital property which is required by judgment declaring a decree of dissolution of the marriage or legal separation, by a judgment of nullity, or by any other judgment or order rendered pursuant to part 5 (commencing with section 4000) of division 4 of the California Civil Code, or by written agreement between spouses, executed in contemplation of any such judgment or order, whether or not the agreement is incorporated as any of the orders of judgments.

(Ord. No. 380)

Any tax imposed pursuant to this chapter shall not apply with respect to any deed, instrument, or writing by which realty is conveyed by the state, any political subdivision thereof, or agency or instrumentality of either thereof, pursuant to an agreement whereby the purchaser agrees to immediately reconvey the realty to the exempt agency.

(Ord. No. 380)

Any tax imposed pursuant to this chapter shall not apply with respect to any deed, instrument, or writing by which the state, any political subdivision thereof, or agency or instrumentality of either thereof conveys to a nonprofit corporation realty, the acquisition, construction or improvement of which was financed or refinanced by obligations issued by the nonprofit corporation on behalf of a governmental unity within the meaning of 1.103-1(b) of Title 26 of the Code of Federal Regulations.

(Ord. No. 380)

Any tax imposed pursuant to this chapter shall not apply with respect to any deed, instrument, or writing by which the state, any political subdivision thereof, or agency or instrumentality of either thereof purports to grant, assign, transfer, convey, divide, allocate or vest lands, tenements, or realty, or any interest therein, if by reason of such inter vivos gift or by reason of the death of any person, such lands, tenements, realty, or interest therein are transferred outright to, or in trust for the benefit of any person or entity.

(Ord. No. 380)

The county clerk-recorder (hereinafter "recorder") shall administer this chapter in conformity with the provisions of part 6.7 of division 2 of the California Revenue and Taxation Code and the provisions of any county chapter adopted pursuant thereto.

(Ord. No. 380)

Claims for refund of taxes imposed pursuant to this chapter shall be governed by provisions of chapter 5 (commencing with § 5096) of part 9 of division 1 of the California Revenue and Taxation Code.

(Ord. No. 380)