Montague Municipal Code Ch. 3.08 Documentary Stamp Tax

DOCUMENTARY STAMP TAX

Sections:

• 3.08.010 Short title—Statutory authority. 3.08.020 Tax imposed. 3.08.030 Payment. 3.08.040 Exemptions—Debt security. 3.08.050 Exemptions—Governments exempted. 3.08.060 Exemptions—Business reorganization. 3.08.070 Exemptions—SEC-ordered conveyance. 3.08.080 Exemptions—Transfer of partnership. 3.08.090 Administration by county.

• 3.08.100 Refunds.

• 3.08.110 Operative date.

• 3.08.120 State law applies.

The ordinance codified in this chapter shall be known as the “Real Property Transfer Tax Ordinance of the City of Montague.” It is adopted pursuant to the authority contained in Part 6.7 (commencing with Section 11901 of Division 2 of the Revenue and Taxation Code of the state. (Ord. 111 § 1, 1967)

There is imposed on each deed, instrument or writing by which any lands, tenements, or other realty sold within the city is granted, assigned, transferred or otherwise conveyed to, or vested in, the purchaser or purchasers, or any other person or 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 one hundred dollars, a tax at the rate of twenty-seven and one-half cents for each five hundred dollars or fractional part thereof. (Ord. 111 § 2, 1967)

Any tax imposed pursuant to Section 3.08.020 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. 111 § 3, 1967)

Any tax imposed pursuant to this chapter shall not apply to any instrument in writing given to secure a debt. (Ord. 111 § 4, 1967)

Any deed, instrument or writing to which the United States of America 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. (Ord. 115, 1970; Ord. 111 § 5, 1967)

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, as amended;

2. Approved in an equity receivership proceeding in a court involving a railroad corporation, as defined in subdivision (m) of Section 205 of Title II of the United States Code, as amended;

3. Approved in an equity receivership proceeding in a court involving a corporation, as defined in subdivision (3) of Section 506 of Title II of the United States Code, as amended; or

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

B. Subdivisions 1 to 4, inclusive, of subsection A 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. 111 § 6, 1967)

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 Section 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 Section 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. 111 § 7, 1967)

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 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 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. (Ord. 111 § 8, 1967)

The county recorder shall administer this chapter in conformity with the provisions of Part 6. 7 of Division 2 of the Revenue and Taxation Code and the provisions of any county ordinance adopted pursuant thereto. (Ord. 111 § 9, 1967)

Claims for refund of taxes imposed pursuant to this chapter shall be governed by the provisions of Chapter 5 (commencing with Section 5096) of Part 9 of Division 1 of the Revenue and Taxation Code of the state. (Ord. 111 § 10, 1967)

This chapter shall become operative upon the operative date of any ordinance adopted by the county of Siskiyou pursuant to Part 6. 7 (commencing with Section 11901) of Division 2 of the Revenue and Taxation Code of the state, or upon the effective date of the ordinance codified in this chapter, whichever is the later. (Ord. 111 § 11, 1967)

All subsequent amendments of the Revenue and Taxation Code which relate to the sale and use tax and which are not inconsistent with Part 1.5 of Division 2 of the Revenue and Taxation Code, shall automatically become a part of this chapter.

The exemptions set forth in Revenue and Taxation Code Sections 11926 and 11927 shall automatically be applicable to any tax referred to under this chapter. Further, any exemption later deleted by amendment to the foregoing sections or any exemption later added by amendment to such sections shall automatically be deleted or added, as the case may be, to this section of this chapter. (Ord. 88-5, 1988; Ord. 111 § 13, 1967)