Ordinance 2638CITY OF ALAMEDA ORDINANCE NO.
New Series
2638
AMENDING THE ALAMEDA MUNICIPAL CODE BY AMENDING
SUBSECTION 3-58.2 (IMPOSITION OF TAX) TO SECTION 3-58 (REAL PROPER.TY TRANSACTION TAXES), PART C (USE
TAX), CHAPTER III (FINANCE AND TAXATION) THEREOF
PERTAINING TO PROPERTY TRANSFER TAX
tha t :
BE IT ORDAINED by the Council of the City of Alameda
Section 1 The Alameda Municipal Code is hereby amended
by amending Subsection 3-58.2 (Imposition of Tax) to Section 3-58(Real Property Transaction Taxes), Part C (Use Tax), Chapter III
(Finance and Taxation) Thereof , to read as follows:
3-58.2 Imposition of Tax.
A tax is hereby imposed on each transfer , by deed
instrument or writing, by which any lands , tenements , or other real
property sold , located in the City, are or is granted , assigned
transferred or otherwise conveyed to , or vested in , a purchaserthereof, or any other person at or by the direction of thepurchaser, when the value of the consideration exceeds one hundred($100.00) dollars , the tax to be five dollars and forty cents($5.40) for each one thousand ($1000.00) dollars or fractional partof one thousand ($1000.00) dollars of the value of theconsideration.
As used :lerein value of the consideration shall mean the
total consideration , valued in money of the United States , paid ordeli vered or contracted to be paid or delivered in return for thetransfer of real property, including the amount of anyindebtedness, existing immediately prior to the transfer which issecured by a lien , deed or trust or other encumbrance on the
property conveyed and which continues to be secured by such lien
deed of trust or encumbrance after the transfer , and also including
the amount of any indebtedness which is secured by a lien, deed ortrust or encumbrance gi ven or placed upon the property in
connection with the transfer to secure the payment of the purchase
price or any part thereof which remains unpaid at the time of the
transfer. Value of the consideration also includes the amount of
any special assessment levied or imposed upon the property by a
public body, district or agency, where the special assessment is a
lien or encumbrance on the property and the purchaser or transferee
agrees to pay such special assessment. The value of any lien or
encumbrance of a type other than those which are hereinabove
specifically included , existing immediately prior to the transferand remaining after said transfer shall not be included in
determining the value of the consideration. If the value of the
consideration cannot be definitely determined , or is left open to
be fixed by future contingencies value of consideration shall mean
the fair market value of the property at the time of transfer after
deducting the amount of any lien or encumbrance if any, of a typewhich would be excluded in determining the value of the
consideration pursuant to above provisions of this subsection.
section 2 This Ordinance shall be in full force and
effective immediately following its final passage waiving the 30
day waiving period after adoption per section 3-12 of the cityCharter.
Presiding Officer of the City C uncil
Attest:
;itLi ty Clerk
, the undersigned, hereby certify that the foregoing Ordinance was
duly and regularly adopted and passed by the Council of the City of
Alameda in regular meeting assembled on the 7th day ofSeptember, 1993 by the following vote to wit:
AYES:Councilmembers Appezzato, Arnerich, Lucas, Roth
and President Wi throw - 5.None.NOES:
ABSENT:None.
ABSTENTIONS:None.
IN WITNESS , WHEREOF, I have hereunto set my hand and affixed the
off icial seal of said City this 8th day of September , 1993.
Diane
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vfrkci ty of Alameda