HomeMy WebLinkAboutORD 510ORD 510 ̤<žj h£Ÿj ¾ x¼IORDINANCE NO. 510
AN ORDINANCE OF THE CITY OF BALDWIN PARK
IMPOSING A REAL PROPERTY TRANSFER TAX.
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,instrument 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 whoso
use or benefit the same is made, signed or issued.
6178- Exemptions. Taxes imposed pursuant to
this Chapter shall not apply:
1) to any instrument in writing 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, hut
the tax shall be collected by assessment,
from any other party to such transaction
who is liable therefor pursuant to the
provisions hereof; or
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ORD 510 ̤<žj h£Ÿj ¾ x¼IOrel Inance No. 510
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 intc're^t
in a partnership or otherwise, if"
1) Such partnership or another part-
nership) is considered a continuing
partnership within the meaning of
Section 708 of the Internal Revenue
Code of 1954; and
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ORD 510 ̤<žj h£Ÿj ¾ x¼IOrdinance No. 510
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 hold
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 CounLy
of Los Angeles, pursuant to Part 6.7 commencing with section
11901) of Division 2 of the Revenue and Taxation Code oi'
the State of California, or upon the effective date of thi^
ordinance, whichever is the later dace.
SECTION 3. Upon its adoption, the City Clerk shall
file two copies of this ordinance with the County Rocorcloi
of Los Aneel^s Coimtv
SECTION 4. That the City Clerk sfiaii certify to tlw
adoption of this Ordinance and shall cause the same to
bo published in the manner prescribed by law.
PASSED AND APPROVED this 20 day of December_______^
1967.
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ORD 510 ̤<žj h£Ÿj ¾ x¼IORDINANCE NO, 510
Page 4
STATE OF CALIFORNIA I
COUNTY OF LOS ANGELES) 53;
CITY OF BALDWIN PARK
I, THELftA L. BALKUS, City Clerk of the City of Baldwin Park, do
hereby certify that the foregoing Ordinance No. 510 was regularly
Introduced and placed upon Its first reading at a.
regular meeting of the City Council on the e)th
day of December
1967. That, thereafter, said Ordinance was duly adopted and passed at
a______________regular meeting of the City Council on the 20th gy
of December
j 1967, by the following vote:
CouncIImen AYE NAY N.V. A.B. CouncIImen AYE NAY N.V. A.B.
ADAIR X5 WcCARON X
CRITES X2 MORE HEAD, ffiAYOR X
GREGORY XI
X Indicates Vote A B. Absent N.V. Not Voting
L.
THELMA L. BALKUS, CITY CLERK
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