Thousand Oaks Municipal Code Ch. 12 Real Property Transfer Taxes

This chapter shall be known as the “Real Property Transfer Tax Law of the City of Thousand Oaks.” 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.

(§ 1, Ord. 157)

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 and no/100ths ($100.00) Dollars a tax at the rate of twenty-seven and one-half (27-1/2¢) cents for each Five Hundred and no/ 100ths ($500.00) Dollars, or fractional part thereof.

(§ 2, Ord. 157)

Statutory reference: Authority, see California Revenue and Taxation Code § 11911

Any tax imposed pursuant to the provisions of Section 3-12.02 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.

(§ 3, Ord. 157)

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

(California Revenue and Taxation Code § 11921) (§ 4, Ord. 157)

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 pursuant to the provisions of this chapter when the exempt agency is acquiring title.

(California Revenue and Taxation Code § 11922) (§ 5, Ord. 157, as amended by § 6, Ord. 1250-NS, eff. January 9, 1996, and § 6, Ord. 1374-NS, eff. April 26, 2001)

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 or 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 11 U.S.C. 101(44);

(c) Approved in an equity receivership proceeding in a court involving a corporation, as defined in 11 U.S.C. 101(9); or

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

The provisions 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.

(California Revenue and Taxation Code § 11923) (§ 6, Ord. 157, as amended by part 4, Ord. 1437-NS, eff. July 7, 2005)

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 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; and

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

(California Revenue and Taxation Code § 11924) (§ 7, Ord. 157)

(a) In the case of any realty held by a partnership or other entity treated as 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 other entity treated as a partnership or otherwise if:

(1) Such partnership or other entity treated as a partnership is considered a continuing partnership or other entity treated as a partnership within the meaning of Section 708 of the Internal Revenue Code of 1954; and

(2) Such continuing partnership or other entity treated as a partnership continues to hold the realty concerned.

(b) If there is a termination of any partnership or other entity treated as a partnership within the meaning of Section 708 of the Internal Revenue Code of 1954, for the purposes of this chapter such partnership or other entity treated as a 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 or other entity treated as a 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 (b) of this section, and any transfer pursuant thereto, with respect to the realty held by such partnership or other entity treated as a partnership at the time of such termination.

(d) No levy shall be imposed pursuant to this part by reason of any transfer between an individual or individuals and a legal entity or between legal entities that results solely in a change in the method of holding title to the realty and in which proportional ownership interests in the realty, whether represented by stock, membership interest, partnership interest, cotenancy interest, or otherwise, directly or indirectly, remain the same immediately after the transfer.

(California Revenue and Taxation Code § 11925) (§ 8, Ord. 157, as amended by part 5, Ord. 1437-NS, eff. July 7, 2005)

The provisions of this chapter shall not apply to any deed, instrument, or other writing which purports to grant, assign, transfer, convey, divide, allocate, or vest lands, tenements, or realty, or any interest therein, if by reason of such inter vivos gift or by reason of the death of any person, such lands, tenements, realty, or interests therein are transferred outright to, or in trust for the benefit of, any person or entity.

(California Revenue and Taxation Code § 11930) (§ 8, Ord. 1374-NS, eff. April 26, 2001)

Any tax imposed pursuant to the provisions of this chapter shall not apply 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 consideration exceeds the unpaid debt, including accrued interest and cost of foreclosure. For tax purposes, consideration, unpaid debt amount and identification of 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.

(California Revenue and Taxation Code § 11926) (§ 7, Ord. 1250-NS, eff. January 9, 1996, as renumbered and amended by § 9, Ord. 1374-NS, eff. April 26, 2001)

(a) Any tax imposed pursuant to the provisions of this chapter shall not apply with respect to any deed, instrument, or other writing which purports to transfer, divide, or allocate community, quasi-community or quasi-marital property which is required by a judgment decreeing a dissolution of the marriage or legal separation, by a judgment of nullity, or by any other judgment or order rendered pursuant to the Family Code, or by a written agreement between the spouses, executed in contemplation of any such judgment or order whether or not the written agreement is incorporated as part of any of those judgments or order.

(b) In order to qualify for the exemption provided in subdivision (a), the written deed, instrument, or other writing shall include a recital, signed by either spouse, stating that the deed, instrument, or other writing is entitled to exemption.

(California Revenue and Taxation Code § 11927) (§ 7, Ord. 1250-NS, eff. January 9, 1996, as renumbered by § 10, Ord. 1374-NS, eff. April 26, 2001, as amended by part 6, Ord. 1437-NS, eff. July 7, 2005)

Any tax imposed pursuant to the provisions of this chapter shall not apply to any deed, instrument or writing by which realty is conveyed by the State of California, any political subdivision thereof, or agency or instrumentality of either thereof, pursuant to an agreement whereby the purchaser agrees to immediately reconvey the realty to the exempt agency.

(California Revenue and Taxation Code § 11928) (§ 7, Ord. 1250-NS, eff. January 9, 1996, as renumbered by § 10, Ord. 1374-NS, eff. April 26, 2001)

Any tax imposed pursuant to the provisions of this chapter shall not apply to any deed, instrument or writing by which the State of California, any political subdivision thereof, or agency or instrumentality of either thereof, conveys to a nonprofit corporation realty the acquisition, construction, or improvement of which was financed or refinanced by obligations issued by the nonprofit corporation on behalf of a governmental entity within the meaning of Section 1.103-1(b) of Title 26 of the Code of Federal Regulations.

(California Revenue and Taxation Code § 11929) (§ 7, Ord. 1250-NS, eff. January 9, 1996, as renumbered by § 10, Ord. 1374-NS, eff. April 26, 2001, as amended by part 7, Ord. 1437-NS, eff. July 7, 2005)

The County Recorder shall administer the provisions of this chapter in conformity with the provisions of Part 6.7 of Division 2 of the Revenue and Taxation Code of the State and the provisions of any County ordinance adopted pursuant thereto.

(§ 9, Ord. 157, as renumbered by § 7, Ord. 1374-NS, eff. April 26, 2001)

Claims for the refund of taxes imposed pursuant to the provisions of this chapter shall be governed by the provisions of Chapter 5 (commencing with Section 5096) of Part 9 of Division I of the Revenue and Taxation Code of the State.

(California Revenue and Taxation Code § 11934) (§ 10, Ord. 157, as renumbered by § 7, Ord. 1374-NS, eff. April 26, 2001)

The provisions of this chapter shall become operative upon the operative date of any ordinance adopted by the County pursuant to the provisions of Part 6.7 (commencing with Section 11901) of Division 2 of the Revenue and Taxation Code of the State, or on November 28, 1967, whichever is the later.

(§ 11, Ord. 157, as renumbered by § 7, Ord. 1374-NS, eff. April 26, 2001)