Riverside Municipal Code Ch. 3.12 Documentary Stamp Tax

This chapter shall be known as the "Real Property Transfer Tax Ordinance of the City of Riverside." It is adopted pursuant to the authority contained in the Revenue and Taxation Code pt. 6.7 of div. 2 (commencing with § 11901) of the State of California and Sections 200 and 1107 of the Charter of the City of Riverside.

(Ord. 6376 § 1, 1997; Ord. 3482 § 1, 1967)

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 $100.00, a tax at the rate of $0.55 cents for each $500.00 or fractional part thereof.

(Ord. 6376 § 1, 1997; Ord. 3482 § 2, 1967)

Any tax imposed pursuant to Section 3.12.020 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. 6376 § 1, 1997; Ord. 3482 § 4, 1967)

Any tax imposed by this chapter shall not apply to any instrument, deed, writing, transfer or document exempted from taxation by the California Revenue and Taxation Code §§ 11921 through 11929.

(Ord. 6376 § 1, 1997; Ord. 3482 § 4, 1967)

The County Recorder shall administer this chapter in conformity with the provisions of the Revenue and Taxation Code pt. 6.7 of div. 2 and the provisions of any county ordinance adopted pursuant thereto and Section 1107 of the Charter of the City of Riverside.

(Ord. 6376 § 1, 1997; Ord. 3672 § 1, 1970; Ord. 3482 § 5, 1967)

The Chief Financial Officer of the City of Riverside in his or her capacity as Tax Collector and/or tax receiver is the officer under the direction of the City Manager responsible for maintaining relations with the County of Riverside for the purpose of administering the tax imposed by this ordinance and receiving and accounting for the funds collected thereunder.

(Ord. 7341 § 3, 2016; Ord. 6376 § 1, 1997; Ord. 3482 § 6, 1967)

If the County of Riverside does not collect the tax due under this ordinance, then the City Manager or his or her designated person shall have the power and duty to enforce all provisions of this ordinance. The City tax is due prior to recordation with the County of Riverside of any written instrument subject to this tax, and the City may make an assessment for taxes not paid in the manner provided for such liens or any resolutions of the City of Riverside providing for such assessments and/or any refunds deemed appropriate by the City of Riverside.

(Ord. 6376 § 1, 1997; Ord. 3482 § 7, 1967)

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

(Ord. 6376 § 1, 1997; Ord. 3482 § 8, 1967)

Upon its adoption, the City Clerk shall file two copies of the ordinance codified in this chapter with the County Recorder.

(Ord. 6376 § 1, 1997; Ord. 3482 § 9, 1967)

The tax codified in this chapter became operative on September 1, 1991.

(Ord. 6376 § 1, 1997; Ord. 3482 § 10, 1967)