HomeMy WebLinkAboutORD NO 1707 ORDINANCE NO. 1707 NE~ SERIES
AN ORDINANCE OF THE COUNCIL 0P THE CITY 0P
BAKERSFIELD ADDING CHAPTER 6.40 TO THE
MUNICIPAL CODE IMPOSING A DOCUMENTARY STAMP
TAX ON THE SALE OF REAL PROPERTY.
BE IT ORDAINED by the Council of the City of Bakersfield
tbmt Chapter 6.40 be added to the Municipal Code as follows:
CHAPTER 6.40
REAL PROPERTY TRANSFER TAX
Sections:
6.40.010 Title.
6.40.020 Imposition of tax.
6.40.030 Persons liable.
6.40.040 Exemption--Securing debts.
6.40.050 Exemption--United States.
6.40.060 Exemption--Court proceedings.
6.40.070 Exemption--Security and Exchange Commission.
6.40. 080 Partnership.
6.40.090 Administration of chapter.
6.40. 100 Claims for refunds.
6.40.110 Operative date.
6.40.120 Piling.
6.40.130 Effective date.
6.40.010 Title. This chapter shall be known as the "Real Property
Transfer Tax of the City of Bakersfield". 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.
6.40.020 Imposition of tax. There is hereby imposed on each
deed, instrument or writing by which any lands, tenements, or other
realty sold within the City of Bakersfield 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), a tax at the rate of twenty-seven and one-half cents ($0.275)
for each five hundred dollars ($500) or fractional part thereof.
6.40.030 Persons liable. Any tax imposed pursuant to Section
6.40.020 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.
6.40.040 . Exemption--Securing debts. Any tax imposed pursuant
to this chapter shall not apply to any instrument in writing given
to secure a debt.
6.40.050 Exemption--United States. 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.
6.40.060 Exemption--Court proceedings. 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
a dj us tmen t--
(a) Confirmed under the Federal Bankruptcy Act, as amended;
(b) Approved in an equity recei, vership 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
2.
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 years from the date of such
confirmation, approval or change.
6.40.070 Exemption--Security and Exchange Commission. Any tax
imposed pursuant to this chapter shall not app~ly 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 Cor~,ission 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 1.5 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.
6.40.080 Partnership. (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) 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
Be
meaning of Section 708 of the Internal Revmnue Code of 1954, for
purposes of this chapter,, 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
chap. ret 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.
6.40.090 Administration of chapter... The County Recorder shall
administer this chapter in conformity with the provisions of Part 6.7
of Division 2 of the Revenue and Taxation Code and the provisions
of any county ordinance adopted pursuant thereto.
6.40.100 Claims for refunds. Claims for refund of taxes imposed
pursuant t~ this chapter 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 of California.
6.40.110 Operative date. This chapter shall become operative
upon the operative date of any ordinance adopted by the County of
Kern, pursuant to Part 6.7 (co~..LLencing with Section 11901) of
Division 2 of the Revenue and Taxation Code of the State of California,
or upon the effective date of this chapter, whichever is the later.
6.40.120 Filing. Upon its adoption the City Clerk shall file
two copies of this ordinance with the County Recorder of Kern County.
6.40.130 Effective date. This ordinance shall take effect thirty
days after adoption by the City Council.
o0o
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I HEREBY CERTIFY that the foregoing Ordinance was
passed and adopted by the Council of the City of Bakersfield at a
regular meeting thereof held on the 27th day of November, 1967,
by the following vote:
AYES: COUNCILMEN HEISEY, HOSKING. REES, RUCKER.~T~RN. ~rTER, WHiITEMORI:
NOES: COUNGILMEN: ~'z..~
ASSENT COUNCILMEN: i~. ~.,~ ~_
· ~.BSTAIN lNG COUNCILMEN: ~
Council of the City of Bakersfield
APPROVED thi. s 2-7th' day of November, 1967
'APPROVED:
Aff av ! of r nan es
STATE OF C,~L~FORNIA, ~ ss.
County of Kern ~
MARIAN S. IRVIN, being duly sworn, deposes and says:
That she is the duly appointed, acting and qualified City Clerk of the City of Bakersfield; and
that on ............ ..N...o..v...e..~...b...e...r.....2..8.. ............................................ ~ 19.6..7..... she posted on the Bulletin Board
at the City Hall, a full, true and correct copy of an ordinance passed by the Council of said City
at a meeting thereof duly held on ......... ..N...o..v...e...m..b...e...r.....2..7.. ............................ 19..6..7...., which ordinance
was numbered ........ ..~..7...0..7.. ..................... New Series, and entitled:
AN ORDINANCE OF THE COUNCIL OF THE CITY OF
BAKERSFIELD ADDING CHAPTER 6.40 TO THE
MUNICIPAL CODE IMPOSING A DOCUMENTARY STAMP
TAX ON THE SALE OF REAL PROPERTY,
Subscribed and sworn to before me this
..2.8th day of November _ ,19 6.7..
Notary Public in and for the County of Kern, State of California