Chapter 3.08
REAL PROPERTY TRANSFER TAX
Sections:
3.08.030 Responsibility for payment.
3.08.040 Exemption – Instrument securing debt.
3.08.050 Exemption – Governmental unit.
3.08.060 Exemption – Reorganization or adjustment.
3.08.070 Exemption – Securities and Exchange Commission order.
3.08.080 Exemption – Realty held by partnership.
3.08.090 Exemption – Mortgage.
For statutory provisions authorizing cities to impose a tax on transfer of real property, see Rev. and Tax. Code §11901 et seq.
3.08.010 Authority.
This chapter shall be known as the “real property transfer tax ordinance of the city of Vacaville.” 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. 657 §1, 1967).
3.08.020 Imposed.
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 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, a tax at the rate of twenty-seven and one-half cents for each five hundred dollars or fractional part thereof. (Ord. 657 §2, 1967).
3.08.030 Responsibility for payment.
Any tax imposed pursuant to Section 3.08.020 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. 657 §3, 1967).
3.08.040 Exemption – Instrument securing debt.
Any tax imposed pursuant to this chapter shall not apply to any instrument in writing given to secure a debt. (Ord. 657 §4, 1967).
3.08.050 Exemption – Governmental unit.
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. (Ord. 657 §5, 1967).
3.08.060 Exemption – Reorganization or adjustment.
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:
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; or
4. Whereby a mere change in identify, form or place of organization is affected.
B. Subsection A 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. 657 §6, 1967).
3.08.070 Exemption – Securities and Exchange Commission order.
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 specifies the property which is ordered to be conveyed;
C. Such conveyance is made in obedience to such order. (Ord. 657 §7, 1967).
3.08.080 Exemption – Realty held by 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 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 of this section, and any transfer pursuant thereto, with respect to the realty held by such partnership at the time of such termination. (Ord. 657 §8, 1967).
3.08.090 Exemption – Mortgage.
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 cost of foreclosure. 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 for this purpose. (Ord. 1006 §1, 1978: Ord. 657 §8.5, 1967).
3.08.100 Administration.
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. (Ord. 657 §9, 1967).
3.08.110 Refunds.
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. 657 §10, 1967).
3.08.120 Operative date.
This chapter shall become operative upon the operative date of any ordinance adopted by the county 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 the ordinance codified in this chapter, whichever is the later. (Ord. 657 §11, 1967).
3.08.130 Recordation.
Upon its adoption, the city clerk shall file two copies of the ordinance codified in this chapter with the county recorder. (Ord. 657 §12, 1967).