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MO 2001-081 to 2001-085
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MO 2001-081 to 2001-085
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Minute Order
Document Date (6)
12/31/2001
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Municipal Code, the Finance Director shall make such rules and regulations as are necessary to <br />effectuate this Section, including a definition of qualifying seismic retrofitting work, as used <br />herein, and procedures for certifying both the work and the costs thereof. <br />2-3-113 Rebate —First-time Homebuvers. <br />Fifty percent (50%) of the amount of tax collected pursuant to this Chapter shall be returned to a <br />taxpayer where the taxpayer has paid such amounts with respect to the making of a conveyance <br />of a single-family residence or condominium in the City, as those terms are defined in Section 1- <br />304 of the Zoning Code, if the taxpayer is the purchaser with respect to said conveyance, is a <br />first-time homebuyer, and claims the property tax homeowners' exemption as defined by the <br />California Revenue and Taxation Code on the residence. The rebate provided by this Section <br />shall be available only to such purchaser. Only taxpayers who paid taxes collected pursuant to <br />this Chapter on conveyances of single-family residences or condominiums where the Value of <br />Consideration paid is at or below 125% of the median value of comparable transfers shall be <br />eligible for this rebate. Thus, for the purposes of this Section, annually no later than April 15, <br />the Finance Director shall designate the applicable median price for single family residences and <br />condominiums, which price shall be based upon relevant sales data for the month of December in <br />the preceding year. The Finance Director shall set forth the sources and methodology for such <br />determination. An application for a rebate pursuant to this Section must be filed within one <br />hundred eighty (180) days following the recordation date of the instrument effectuating the <br />subject transfer. Pursuant to Section 2-3-160 of the Municipal Code, the Finance Director shall <br />make such rules and regulations as are necessary to effectuate this Section, including a definition <br />of first-time homebuyer, as used herein, and procedures for certifying that the applicant meets <br />that definition. <br />2-3-114 Rebate —Low-income Homebuvers. <br />Fifty percent (50%) of the amount of tax collected pursuant to this Chapter shall be returned to a <br />taxpayer where the taxpayer has paid such amounts with respect to the making of a conveyance <br />of a single-family residence or condominium in the City, as those terms are defined in Section 1- <br />304 of the Zoning Code, if the taxpayer is the purchaser with respect to said conveyance, is a <br />low-income homebuyer, and claims the property tax homeowners' exemption as defined by the <br />California Revenue and Taxation Code on the residence. The rebate provided by this Section <br />shall be available only to such purchaser. An application for a rebate pursuant to this Section <br />must be filed within one hundred eighty (180) days following the recordation date of the <br />instrument effectuating the subject transfer. Pursuant to Section 2-3-160 of the Municipal Code, <br />the Finance Director shall make such rules and regulations as are necessary to effectuate this <br />Section, including a definition of low-income homebuyer, as used herein, and procedures for <br />certifying that the applicant meets that definition. <br />2 3 115 Rebate —Charitable Donations of Property. <br />Fifty percent (50%) of the amount of tax collected pursuant to this Chapter shall be returned to a <br />taxpayer where the taxpayer has paid such amounts with respect to any deed, instrument, or other <br />writing by which a person donates and conveys any realty to an organization, or person, <br />organized and operating for charitable purposes as defined in Chapter 4-22 of the Municipal <br />Code, where the taxpayer making the donation receives no consideration in return. A claim for a <br />rebate pursuant to this Section must be filed within one hundred eighty (180) days following the <br />2 <br />
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