HomeMy WebLinkAboutOrd 0872ORDINANCE NO. 872
AN ORDINANCE OF THE CITY OF BURLINGAME,
IMPOSING A DOCUMENTARY STAMP TAX ON THE
SALE OF REAL PROPERTY
The City Council of the City of Burlingame does ordain
as follows:
Section 1: This ordinance shall be known as the f1Real
Property Transfer Tax Ordinance of the City of Burlingame". It is
adopted pursuant to the authority contained in Part 6.7 (commenc-
ing with Section 11901) of Division 2 of the Revenue and Taxation
Code of the State of California.
Section 2: There is hereby imposed on each deed,
ment or writing by which any lands, tenements, or other realty
sold within the City of Burlingame 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 encumb-
rances remaining thereon at the time of sale) exceeds one hundred
dollars ($100.00), a tax at the rate of twenty-seven and one-half
cents ($0,275) for each five hundred dollars ($500.00) or frac-
tional part thereof.
Section 3: Any tax imposed pursuant to Section 2 hereof
shall be paid by any person who makes, signs or issues any docu-
ment or instrument subject to the tax, or for whose use or benefit
the same is made, signed or issued.
Section 4: Any tax imposed pursuant to this ordinance
shall not apply to any instrument in writing given to secure a
debt.
Section 5: The United States or any agency or instru-
mentality thereof, any state or territory, or political subdivision
ac
thereof, or the District of Columbia shall not be liable for any to
imposed pursuant to this ordinance with respect to any deed, instru
went, or writing to which it is a party, but the tax may be collec-
ted by assessment from any other party liable therefor.
Section 6: Any tax imposed pursuant to this ordinance
shall not apply to the making, delivering or filing of conveyances
to make effective any plan of reorganization or adjustment:
(a) Confirmed under the Federal Bankruptcy Act, as
amended;
(b) Approved in an equity receivership proceeding in a
Court involving a railroad corporation, as defined in sub-
division (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 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 tran
fer or conveyances occurs within five (5) years from the date of
such confirmation, approval or change.
Section 7: Any tax imposed pursuant to this ordinance
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
CPA
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.
Section 8: (a) In the case of any realty held by a
partnership, no levy shall be imposed pursuant to this ordinance
by reason of any transfer of an interest in a partnership or other-
wise, if:
(1) Such partnership (or another partnership) is con-
sidered 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 ordinance, 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 encumbranc
remaining thereon), all realty held by such partnership at the time
of such termination.
(c) Not more than one (1) tax shall be imposed pursuant
to this ordinance by reason of a termination described in sub-
division (b), and any transfer pursuant thereto, with respect to
the realty held by such partnership at the time of such termination
Section 9: The County Recorder shall administer this
ordinance 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.
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Section 10: Claims for refund of taxes imposed pursuant
to this ordinance 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.
Section 11: This ordinance shall become operative upon
the operative date of any ordinance adopted by the County of San
Mateo, 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.
Section 12: Upon its adoption the City Clerk shall file
two (2) copies of this ordinance with the County Recorder of San
Mateo County.
Section 13: This ordinance, inasmuch as it provides for
a tax levy for the usual and current expenses of the city, shall
take effect immediately.
Section 14: This ordinance shall be published as re-
quired by law.
Mayor
1, HERBERT K. WHITE, City Cleric, do hereby certify that
the foregoing ordinance was introduced at a regular meeting of the
City Council held on the 20th day of November, 1967, and adopted
thereafter at a regular meeting of the City Council held on the
4th day of December, 1967, by the following votes:
AYES: Councilmen: Crosby-Diederichsen-George-Johnson-
NOES: Councilmen. Martin.
Absent Councilmen: None
None
City Clerk
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