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City of San Leandro <br />Meeting Date: July 20, 2020 <br />Staff Report <br />Agenda Section:File Number:20-339 ACTION ITEMS <br />Agenda Number: <br />TO:City Council <br />FROM:Jeff Kay <br />City Manager <br />BY:City Council <br />FINANCE REVIEW:Susan Hsieh <br />Finance Director <br />TITLE:ORDINANCE of the City of San Leandro Amending Section 2-3-105 of the San <br />Leandro Municipal Code Relating to the Real Property Transfer Tax. <br />THE PEOPLE OF THE CITY OF SAN LEANDRO DO ORDAIN as follows: <br />SECTION 1. AMENDMENT TO THE SAN LEANDRO MUNICIPAL CODE. San <br />Leandro Municipal Code Section 2-3-105 of the San Leandro Municipal Code is hereby <br />amended to read as follows (with additions in italics and deletions in strikethrough): <br />“CHAPTER 2-3 REAL PROPERTY TRANSFER TAX <br />2-3-105 IMPOSITION OF TAX <br />(a) A tax is hereby imposed on each transfer by deed, instrument or writing, by which any <br />lands, tenements or other real property located in the City, are sold or granted, assigned, <br />transferred or otherwise conveyed to, or vested in, a purchaser or purchasers thereof, or any other <br />person or persons at or by the direction of said purchaser or purchasers, when the value of the <br />consideration exceeds One Hundred Dollars, said tax is to be at the rate of Six Dollars ($6.00) <br />Eleven Dollars ($11.00) for each One Thousand Dollars ($1,000.00) or fractional part of One <br />Thousand Dollars or the value of the consideration. <br />As used herein, “value of the consideration” means the total consideration, paid or <br />delivered or contracted to be paid or delivered in return for the transfer or any lands, tenements or <br />other real property, including the amount of any indebtedness, existing immediately prior to the <br />transfer which is secured by a lien, deed of trust or other encumbrance on the property conveyed <br />and which continues to be secured by such lien, deed or trust or encumbrance after said transfer, <br />and also including the amount of any indebtedness which is secured by a lien, deed of trust or <br />encumbrance given or placed upon the property in connection with the transfer to secure the <br />payment of the purchase price or any part thereof which remains unpaid at the time of the transfer. <br />“Value or of the consideration” also includes the amount of any special assessment levied or <br />imposed upon the lands, tenements or other real property by a public body, district or agency, <br />Page 1 City of San Leandro Printed on 7/15/2020 <br />376