Madera Municipal Code Ch. 5 Real Property Transfer Tax

This chapter shall be known as the "Real Property Transfer Tax Law of the City." It is adopted pursuant to the authority contained in Cal. Rev. & Tax. Code, Part 6.7 (commencing with Cal Rev. & Tax. Code § 11901) of Division 2.

('61 Code, § 8-5.01) (Ord. 116 C.S., passed 12-4-67)

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 or persons, by his, her, 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 a tax at the rate of $.275 for each $500 or fractional part thereof.

('61 Code, § 8-5.02) (Ord. 116 C.S., passed 12-4-67)

Any tax imposed pursuant to the provisions of § 8-5.02 of this chapter 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.

('61 Code, § 8-5.03) (Ord. 116 C.S., passed 12-4-67)

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

('61 Code, § 8-5.04) (Ord. 116 C.S., passed 12-4-67)

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

('61 Code, § 8-5.05) (Ord. 116 C.S., passed 12-4-67; Am. Ord. 146 C.S., passed 5-6-70)

(A) Any tax imposed pursuant to the provisions of 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, as amended;

(2) Approved in an equity receivership proceeding in a court involving a railroad corporation, as defined in subsection (m) of § 205 of Title 11 of the United States Code, as amended;

(3) Approved in an equity receivership proceeding in a court involving a corporation, as defined in subsection (3) of § 506 of Title 11 of the United States Code, as amended; or

(4) Whereby a mere change in identity, form, or place of organization is effected.

(B) The provisions 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, approved, or change.

('61 Code, § 8-5.06) (Ord. 116 C.S., passed 12-4-67)

Any tax imposed pursuant to the provisions of 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 subsection (a) of § 1083 of 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; and

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

('61 Code, § 8-5.07) (Ord. 116 C.S., passed 12-4-67)

(A) In the case of any realty held by a partnership, no levy shall be imposed pursuant to the provisions of this chapter by reason of any transfer of an interest in a partnership or otherwise if:

(1) Such partnership (or another partnership) if considered a continuing partnership within the meaning of § 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 § 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 the provisions of this chapter by reason of a termination described in subsection § 8-5.08(B) of this section, and any transfer pursuant thereto, with respect to the realty held by such partnership at the time of such termination.

('61 Code, § 8-5.08) (Ord. 116 C.S., passed 12-4-67)

The County Recorder shall administer the provisions of this chapter in conformity with the provisions of Cal Rev. & Tax. Code, Part 6.7 of Division 2 and the provisions of any county ordinance adopted pursuant thereto.

('61 Code, § 8-5.09) (Ord. 116 C.S., passed 12-4-67)

Claims for the refund of taxes imposed pursuant to the provisions of this chapter shall be governed by the provisions of Cal. Rev. & Tax. Code, Chapter 5 (commencing with Cal. Rev. & Tax. Code § 5096) of Part 9 of Division 1.

('61 Code, § 8-5.10) (Ord. 116 C.S., passed 12-4-67)

The provisions of this chapter shall become operative upon the operative date of any ordinance adopted by the county pursuant to the provisions of Cal. Rev. & Tax. Code, Part 6.7 (commencing with Cal. Rev. & Tax. Code § 11901) of Division 2, or on December 4, 1967, whichever is the later.

('61 Code, § 8-5.11) (Ord. 116 C.S., passed 12-4-67)