Redwood City Municipal Code § 32.50 Administration of Article Provisions

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Editor's note— Ord. No. 1750, § 1, enacted April 24, 1978, repealed former Art. III, §§ 32.40—32.64, relative to real property conveyance tax derived from Ord. No. 1679, § 1, adopted Aug. 2, 1976. Section 3 of said Ord. No. 1750, enacted a new Art. III, §§ 32.40—32.51, as herein set out.

This Article shall be known as the "Real Property Transfer Tax Ordinance of the City of Redwood City." 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 of California.

(Ord. No. 1750, § 3, 4-24-78)

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 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 ($100.00), a tax at the rate of twenty-seven and one-half cents ($0.275) for each five hundred dollars ($500.00) or fractional part thereof.

(Ord. No. 1750, § 3, 4-24-78)

Each deed, instrument or writing by which lands, tenements or other realty is sold, granted, assigned, transferred or otherwise conveyed subject to the provisions of this Article shall have noted upon it the tax roll parcel number pertaining thereto. Said number shall be used only for administrative procedural purposes and shall not be proof of title, and in the event of any conflicts, the stated legal description noted upon the document shall govern. The validity of such document shall not be affected by the fact that such parcel number is erroneous or omitted, and there shall be no liability attaching to any person for an error in such number or for omission of such number.

(Ord. No. 1750, § 3, 4-24-78)

Any tax imposed pursuant to Section 32.41 hereof 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. 1750, § 3, 4-24-78)

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

(Ord. No. 1750, § 3, 4-24-78)

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 the tax imposed pursuant to this Article when the exempt agency is acquiring title.

(Ord. No. 1750, § 3, 4-24-78)

The 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:

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;

C. Approved in an equity receivership proceeding in a court involving a 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.

Subdivisions 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 (5) years from the date of such confirmation, approval or change.

(Ord. No. 1750, § 3, 4-24-78)

The 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:

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. No. 1750, § 3, 4-24-78)

A. In the case of any realty 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 subdivision B, and any transfer pursuant thereto, with respect to the realty held by such partnership at the time of such termination.

(Ord. No. 1750, § 3, 4-24-78)

The tax imposed pursuant to this Article 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 the unpaid debt, including accrued interest and cost of foreclosure. The consideration, unpaid debt amount, and identification of the 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. 1750, § 3, 4-24-78)

The County Recorder, County of San Mateo, California shall administer the provisions of this Article in conformity with the provisions of part 6.7 of division 2 of the Revenue and Taxation Code of the State of California, and the provisions of any ordinance of the County adopted pursuant thereto.

(Ord. No. 1750, § 3, 4-24-78)

Claims for refund of taxes imposed pursuant to this Article 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. No. 1750, § 3, 4-24-78)