Chapter 3.24
REAL PROPERTY TRANSFER TAX*
Sections:
3.24.010 Adoption Pursuant to State Statute.
3.24.020 Taxable Transactions – Rate.
3.24.040 Exception – Debt Security.
3.24.050 Exception – Political Subdivisions.
3.24.060 Exception – Bankruptcy Conveyances.
3.24.070 Exception – Order of Securities and Exchange Commission.
3.24.080 Exception – Transfer Within Partnership.
3.24.090 County Recorder – Administration.
3.24.120 Exception – Foreclosure.
* For statutory provisions authorizing cities to impose a tax on transfers of real property, see Revenue and Taxation Code § 11901 et seq.
3.24.010 Adoption Pursuant to State Statute.
The ordinance codified in this chapter shall be known as the “Real Property Transfer Tax Ordinance of the City of Carmel-by-the-Sea.” 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. 160 C.S. § 1, 1967).
3.24.020 Taxable Transactions – Rate.
There is imposed on each deed, instrument or writing, by which any lands, tenements, or other realty sold within the City is granted, assigned, transferred or otherwise conveyed to, or vested in the purchaser or purchasers, or any other person or persons, by her, 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) exceed $100.00, a tax at the rate of $0.275 for each $500.00 or fractional part thereof. (Ord. 160 C.S. § 2, 1967).
3.24.030 Payee Designated.
Any tax imposed pursuant to CMC 3.24.020 shall be paid by any person who makes, signs or issues any document or instrument subject to the tax, or for whose benefit the same is made, signed or issued. (Ord. 160 C.S. § 3, 1967).
3.24.040 Exception – Debt Security.
Any tax imposed pursuant to this chapter shall not apply to any instrument in writing given to secure a debt. (Ord. 160 C.S. § 4, 1967).
3.24.050 Exception – Political Subdivisions.
Any deed, instrument or writing to which the United States or any agency or instrumentality thereof, or State or Territory, or political subdivision thereof, is a party shall be exempt from any tax imposed pursuant to this chapter when the exempt agency is acquiring title. (Ord. 79-21 § 5, 1979; Ord. 160 C.S. § 5, 1967).
3.24.060 Exception – Bankruptcy Conveyances.
A. 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 as follows:
1. Confirmed under the Federal Bankruptcy Act, as amended;
2. 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;
3. 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;
4. Whereby a mere change in identity, form or place of organization is effected.
B. Subsections (A)(1) to (A)(4), 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. (Ord. 160 C.S. § 6, 1967).
3.24.070 Exception – Order of Securities and Exchange Commission.
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 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 specified the property which is ordered to be conveyed;
C. Such conveyance is made in obedience to such order. (Ord. 160 C.S. § 7, 1967).
3.24.080 Exception – Transfer Within 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 700 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 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 chapter by reason of a termination described in subsection (B) and any transfer pursuant thereto, with respect to the realty held by such partnership at the time of such termination. (Ord. 160 C.S. § 8, 1967).
3.24.090 County Recorder – Administration.
The County Reorder 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. (Ord. 160 C.S. § 9, 1967).
3.24.100 Claims for Refund.
Claims for refund of taxes imposed pursuant to 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. (Ord. 160 C.S. § 10, 1967).
3.24.110 Operative Date.
This chapter shall become operative upon the operative date of any ordinance adopted by the County of Monterey, pursuant to Part 6.7 (commencing 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. (Ord. 160 C.S. § 11, 1967).
3.24.120 Exception – Foreclosure.
Any tax imposed pursuant to this chapter 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 costs of foreclosure. Consideration, unpaid debt amount and identification of grantee as beneficiary or mortgagee shall be noted on the deed, instrument or writing or stated in an affidavit or declaration under penalty of perjury for tax purposes. (Ord. 79-21 § 6, 1979; Ord. 160 C.S. § 14, 1967).