Tulare Municipal Code Ch. 5.72 Documentary Stamp Tax

This chapter shall be known as the “Real Property Transfer Tax Ordinance of the City of Tulare”. It is adopted pursuant to the authority contained in Cal. Revenue and Taxation Part 6.7 (commencing with § 11901) of Division 2.

(1995 Code, § 5.72.010)

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 by his or her 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, a tax at the rate of $0.275 for each $500 or fractional part thereof.

(1995 Code, § 5.72.020)

Any tax imposed pursuant to § 5.72.020 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.

(1995 Code, § 5.72.030)

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

(1995 Code, § 5.72.040)

The United States or any agency or instrumentality thereof, any state or territory, or political subdivision thereof, or the District of Columbia shall not be liable for any tax imposed pursuant to this chapter with respect to any deed, instrument, or writing to which it is a party, but the tax may be collected by assessment from any other party liable therefor.

(1995 Code, § 5.72.050)

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:

(A) Confirmed under the Federal Bankruptcy Act, as amended;

(B) Approved in an equity receiving proceeding in a court involving a railroad corporation, as defined in 11 U.S.C. § 101(33), as amended;

(C) Approved in an equity receivership proceeding in a court involving a corporation; or

(D) Whereby a mere change in identity, form or place of organizations effected. Divisions (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 years from the date of such confirmation approval or change.

(1995 Code, § 5.72.060)

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 § 1083(a) 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 15 U.S.C. § 79k, relating to the Public Utility Holding Company Act of 1935;

(B) The order specifies the property which is ordered to be conveyed; or

(C) The conveyance is made in obedience to the order.

(1995 Code, § 5.72.070)

(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) The partnership (or another partnership) is considered a continuing partnership within the meaning of § 708 of the Internal Revenue Code of 1954; and

(2) The continuing partnership continues to hold the realty concerned.

(B) If there is a termination of any partnership within the meaning of § 708 of the Internal Revenue Code of 1954, for purposes of this chapter, the 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 the partnership at the time of the termination.

(C) Not more than one tax shall be imposed pursuant to this chapter by reason of a termination described in division (B) above, and any transfer pursuant thereto, with respect to the realty held by the partnership at the time of the termination.

(1995 Code, § 5.72.080)

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

(1995 Code, § 5.72.090)

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

(1995 Code, § 5.72.100)