HomeMy WebLinkAbout7 - Ordinances ORDINANCE NO. 7
AN ORDINANCE OF THE CITer COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, CALIFORNIA, AUTHORIZING THE LEVY OF A DOCU-
MENTARY STAMfP TAX AND PROVIDING FOR ITS ADOPTION AS AN
URGENCY ORDINANCE
The City Council of the City of Rancho Cucamonga does ordain as
follows:
SECTION 1: Short Title.
This chapter shall be known as the "Real Property Transfer Tax
Ordinance of the City of Rancho Cucamonga". 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.
SECTION 2: Imposition.
%here is imposed on each deed, instrument or writing by which any
lands, tenements, or other realty sold within the city 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, a tax at the rate of twenty-seven
and one-half cents for each five hundred dollars or fractional part thereof.
SECTION 3: Payment.
Any tax imposed pursuant to Section 2 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.
SECTION 4: Exemptions.
The tax imposed pursuant to this Ordinance shall not apply to:
(a) Instruments given to secure a debt (Revenue and
Taxation Code §11921).
(b) Instruments of the United States or agencies or
instrumentalities thereof (Revenue and Taxation
Code §11922).
(c) Conveyances under reorganization or adjustment plans
(Revenue and Taxation Code ~11923).
(d) Conveyances under order of Securities and
exchange Commission (Revenue and Taxation Code
§11924).
(e) Transfers of certain partnership property
(Revenue and Taxation Code §11925).
(f) Instruments taken in lieu of foreclosure
Revenue and Taxation Code §11926).
As these sections of the Revenue and Taxation Code may be from time to time
amended.
SECTION 5. 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.
SECTION 6: Claims for refund.
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.
Ordinance No. 7
Page 2
SECTION 7: Declaration of Urgency.
The City of Rancho Cucamonga was incorporated on November 30, 1977. It
is necessary that the City receive all revenues to which it is entitled in
order that it can provide for the needs of its residents. The City Council
therefore determines that the public peace, health, and general welfare of the
community require that this Ordinance take effect immediately upon its adoption.
PASSED, APPROVED, and ADOPTED this 2nd day of December, 1977.
AYES: Frost, Mikels, Palombo, Schlosser, West
NOES: None
ABSENT: None
ATTEST:
H.K. Hunter
City Clerk