Pomona Municipal Code § 50-251 Imposed

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State Law reference— Documentary Transfer Tax Act, Revenue and Taxation Code § 11901 et seq.

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 any other person, by his 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 $1.10 for each $500.00 or fractional part thereof.

(Code 1959, § 9-256; Ord. No. 2182, § 2; Ord. No. 3605, § 1)

State Law reference— Tax authorized, Revenue and Taxation Code § 11911.

Any tax imposed pursuant to section 50-251 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 document or instrument is made, signed or issued.

(Code 1959, § 9-257; Ord. No. 2182, § 3)

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

(Code 1959, § 9-258; Ord. No. 2182, § 4)

State Law reference— Similar provisions, Revenue and Taxation Code § 11921.

Any deed, instrument or writing to which the United States 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 by this article when the exempt agency is acquiring title.

(Code 1959, § 9-259; Ord. No. 2182, § 5; Ord. No. 2328, § 1)

State Law reference— Similar provisions, Revenue and Taxation Code § 11922.

(a) Any tax imposed pursuant to this article 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 11 USC 205(m), as amended;

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

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

(b) Subsections (a)(1) to (4) of this section, inclusive, shall only apply if the making, delivering or filing of instruments of transfer or conveyances occurs within five years from the date of such confirmation, approval or change.

(Code 1959, § 9-260; Ord. No. 2182, § 6)

State Law reference— Similar provisions, Revenue and Taxation Code § 11923.

Any tax imposed pursuant to this article 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:

(1) 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, relating to the Public Utility Holding Company Act of 1935.

(2) Such order specifies the property which is ordered to be conveyed.

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

(Code 1959, § 9-261; Ord. No. 2182, § 7)

State Law reference— Similar provisions, Revenue and Taxation Code § 11924.

(a) If any realty is held by a partnership, no levy shall be imposed pursuant to this article 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 article, 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 article 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.

(Code 1959, § 9-262; Ord. No. 2182, § 8)

State Law reference— Similar provisions, Revenue and Taxation Code § 11925.

The county recorder shall administer this article in conformity with the provisions of Revenue and Taxation Code div. 2, pt. 6.7 (Revenue and Taxation Code § 11901 et seq.) and the provisions of any county ordinance adopted pursuant thereto.

(Code 1959, § 9-263; Ord. No. 2182, § 9)