Ordinance No. 226 - Real Property Transfer TaxC. • •
ORDINANCE N0, 226
AN ORDINANCE OF THE CITY OF ROSEMEAD
IMP OSIidG A REAL PROPERTY TRANSFER TAX
ON THE SALE OF REAL PROPERTY.
THE CITY COUNCIL OF THE CITY OF ROSEMEAD DOES HEREBY ORDAIN AS
FOL L 0!~S :
Section 1. Article VI of the Rosemead Municipal Code is
hereby amen e y adding thereto Chapter 1.5 to read as follows;
CHAPTER 1.5 - Uniform Real Property Transfer
Tax'Or3'i Hance.
6150. Title; This Chapter shalt be known as the "Uniform
el~a TProperty Transfer Tax Ordinance of the City of
Rosemead". It is adopted pursuant to the authority
contained in Part 6.7 (commencing with Section 11x01)
of Division 2 of the Revenue and Taxation Code of the
State of California,
6151. position of Tax. There is hereby imposed on each
ed-ecT-instrument or writing by which any lands,
tenements, or other realty sold within the City of
Rosemead 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 encumbrances remaining thereon
at the time of sale) exceeds one hundred dollars
($100), a tax at the rate of twenty-seven and one-
half cents ($x,275) for each five hundred dollars
($500) or fractional part thereof.
6152. Pa ment. Any tax imposed pursuant to Section 6151
ereo 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.
6153. Exception - Security. Any tax imposed pursuant to
tTiis C apter s a not apply to any instrument in
writing given to secure a debt.
6154. Exce tion - Governmental A encies, The United States
or any agency or instruments ity 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 ordinance 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.
6155. Exception - Miscellaneous Proceedin s. Any tax imposed
pursuant to t is apter s a 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 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
subdivision (3) of Section 5U6 of Title 11 of the
United States Code, as amended; or
(d) t~{hereby 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 transfer or conveyances occurs within
five years from the date of such confirmation, approval
or change.
6156, Exce tion - Securities and Exchan a Commission. Any
tax impose pursuant to t is C apter s a 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.
6157. Partnerships.
(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
a (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 exe-
cuted 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) iVot more than one tax shall be imposed pursuant
to this Chapter by reason of a termination
described in subdivision (b), and any transfer
pursuant thereto, with respect to the realty held
by such partnership at the time of such termination.
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si~f'aTT'~3rninister t rs~Fapter in conformity with the
provisions of Part 6.7 of Division 2 of the Revenue
and Taxation Gode and the provisions of any county
ordinance adopted pursuant thereto.
6158. Administretion~ County Recorder, The County Recorder
6159. Claims for Refund. Claims for refund of taxes imposed
pursuant to t is 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 operative
date of anyany or~c'inance adopted by the Count of Los Angeles, pursuant
to Part 6,7 (commencing with Section 1190 1 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 3. Upon its adoption, the City Clerk shall file
two copies o t is ordinance with the County Recorder of Los
Angeles County.
Section 4. This ordinance, inasmuch as it provides for
a tax levy or t e usual and current expenses of the city, shall
take effect immediately upon its adoption.
• PASSED, APPROVED and ADOPTED this 12th day of December,
1967.
ATTEST:
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