§ 3.24.020. Imposition—Rate.

There is imposed on each deed, instrument or writing by which any lands, tenements or other realty sold within the county is 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 fifty-five cents for each five hundred dollars or fractional part thereof.

For purposes of this section, the definition of "realty sold" includes, but is not limited to, a change in ownership as currently set forth in Part 0.5, commencing with Section 60 of Division 1 of the Revenue and Taxation Code, with special reference to Sections 64(c) and 64(d). For the purposes of this section "lien or encumbrances" means third-party liens or encumbrances that are not accounted for in the financing of the property transaction, but does not mean financing mechanisms for the property transfer, such as the purchaser assuming a mortgage or loan on the property held by the seller.

(Ord. 379 § 2, 1967.)

(Ord. No. 13-01, § 1, 5-7-2013)