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Home My WebLink AboutORD 509ORD 509Ì¤<žjh£Ÿj¾s¼IORDINANCE NO. 509 AN ORDINANCE OF THE CITY OF BALDWIN PARK IMPOSING A REAL PROPERTY TRANSFER TAX. URGENCY) THE CITY COUNCIL OF THE CITY OF BALDWIN PARK DOES ORDAIN AS FOLLOWS: SECTION 1. That Chapter 3, entitled Real Property Transfer Tax", is hereby added to Article VI of the Baldwin Park Municipal Code, consisting of Sections 6175 through 6180, which shall read as follows: CHAPTER 3. REAL PROPERTY TRANSFER TAX. 6175. Title. This Chapter shall be known as the Real Property Transfer Tax Law of the City of Baldwin Park.' 6176. Authority. This Chapter 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, to which reference is hereby made. 6177. Imposition of Tax. There is hereby imposed, on each deed, ins trument or other writing, by which any lands, tenements, or other realty sold within the City of Baldwin Park, 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 amount of any lien or encumbrance 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), and each fractional part, of the value or consideration given for such transfer. The tax imposed pursuant to this Chapter shall be paid by any person who makes, signs or issues any such document subject to the tax, or for whose use or berrfit the same is made, signed or issued. 6178< Exemptions. Taxes imposed pursuant to thia Chapter shall not apply: 1) to any instrument in writipg given to secure a debt; or 2) to the United States or any agency or instrumentality thereof, any state or territory, or political subdivision thereof, or the District of Columbia with respect to any deed, instrument, or writing to which it is a party, but the tax shall be collected by assessment, from any other party to such transaction who is liable therefor pursuant to the provisions hereof; or 1- BIB] 37946-U01 ORD-U02 509-U02 LI2-U03 FO31549-U03 FO31550-U03 DO31561-U03 C5-U03 ORDINANCES-U03 11/20/2003-U04 ROBIN-U04 ORD 509Ì¤<žjh£Ÿj¾s¼IOrdinance No. 509 3) to the making, delivering or filing of conveyances to make effective any plan of reorganization or adjustment" a) confirmed under the Federal Bank- ruptcy Act, as amended; b) 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; c) approved in an equity receivership proceeding in a court involving a corporation, as defined in subdivi- sion 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 affected. Subdivisions a) to d), inclusive, of this sub- 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; or 4) to the making or delivery of conveyances to make effective any order of the Securities and Exchange Commission, as defined in sub- division 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 neces- sary 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; and b) Such order specifies the property which is ordered to be conveyed; and c) Such conveyance is made in obedience to such order; or 5) a) by reason of any transfer of an interest in a partnership or otherwise, if" 1) Such partnership or another part- nership) is considered a continuing partnership within the meaning o£ Section 708 of the Internal Revenue Code of 1954; and 2- BIB] 37946-U01 ORD-U02 509-U02 LI2-U03 FO31549-U03 FO31550-U03 DO31561-U03 C5-U03 ORDINANCES-U03 11/20/2003-U04 ROBIN-U04 ORD 509Ì¤<žjh£Ÿj¾s¼IOrdinance No. 509 2) Such continuing partnership continues to hold the realty concerned; or b) If there is a termination of any part- nership, within the meaning of Section 708 of the Internal Revenue Code of 1954, for the 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. Pro- vided, that not more than one tax shall be imposed pursuant hereto by reason of a termination described in this sub- section, and any transfer pursuant thereto, with respect to the realty held by such partnership at the time of such termination. 6179. Administration. 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 and the provisions of any Los Angeles County ordinance adopted pursuant thereto. 6180. Refunds. Claims for refund of taxes imposed pursuant to this Chapter shall be governed by the pro- visions of Chapter 5 commencing with Section 5096) of Part 9 of Division 1 of the Revenue and Taxation Code of the State of California." SECTION 2. This ordinance shall become operative upon the effective date of an ordinance adopted by the County of Los Angeles, 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 ordinance, whichever is the later date. SECTION 3. Upon its adoption, the City Clerk shall file two copies of this ordinance with the County Recorder of Los Angeles County. SECTION 4. That this ordinance, inasmuch as it provides for a tax levy for the usual and current expenses of the City, within the meaning of Section 36937 of the Government Code, shall take effect immediately. SECTION 5. That the City Clerk shall certify to the adoption of this Ordinance and shall cause the same to be published in the manner prescribed by law. PASSED AND APPROVED this 6th day of December________, 1967. A-- yor ATTEST: L^^, City Clerk 3- BIB] 37946-U01 ORD-U02 509-U02 LI2-U03 FO31549-U03 FO31550-U03 DO31561-U03 C5-U03 ORDINANCES-U03 11/20/2003-U04 ROBIN-U04 ORD 509Ì¤<žjh£Ÿj¾s¼ISTATE OF CALIFORNIA 5 COUNTY OF LOS ANGELES SS: CITY OF BALDWIN PARK THELMA L. BALKUS, City Clerk of the City of Ba hereby certify that the foregoing Ordinance No. 509 was duly passed at a regular meeting of the City Council on the 6th December______y 1967, by the following vote: dwin Park do adopted and day of Counc iImen AYE NAY N.V. A,B. CouncIImen AYE NAY N.V, A.B. ADAIR X MCCARON X CRiTES X2 MOREHEAD, MAYOR X GREGORY Xt X Indicat es Vote A. B. Absent N.V. Not Voting &^^ L<^ THELMA L, BALKUS. CITY CLERK BIB] 37946-U01 ORD-U02 509-U02 LI2-U03 FO31549-U03 FO31550-U03 DO31561-U03 C5-U03 ORDINANCES-U03 11/20/2003-U04 ROBIN-U04