Source: https://www.ecode360.com/11197175
Timestamp: 2017-11-24 00:19:18
Document Index: 607178087

Matched Legal Cases: ['§ 65', '§ 65', '§ 65', '§ 65', '§ 65', '§ 65', '§ 65', '§ 65', '§ 65', '§ 65', '§ 65', '§ 65', '§ 65', '§ 8101', '§ 65', '§ 6901', '§ 65', '§ 65', '§ 11011', '§ 7101', '§ 8101']

Borough of Lake City, PA Taxation: Realty Transfer Tax
§ 65-4 Imposition of tax; interest.
§ 65-5 Exempt parties.
§ 65-6 Excluded transaction
§ 65-7 Transfers with corporations and associations.
§ 65-8 Acquired companies.
§ 65-9 Credits against tax.
§ 65-10 Extension of lease.
§ 65-11 Proceeds of judicial sales.
§ 65-12 Duties of Recorder of Deeds.
§ 65-13 Statement of value.
§ 65-14 Civil penalty.
§ 65-15 Tax to be lien.
§ 65-16 Enforcement; rules and regulations.
Chapter 65: Taxation: Realty Transfer Tax
[HISTORY: Adopted by the Borough Council of the Borough of Lake City 12-22-1986 by Ord. No. 272-86. Amendments noted where applicable.]
Occupational privilege tax — See Ch. 63.
Chapter 65 : Taxation: Realty Transfer Tax
This chapter shall be known as the "Realty Transfer Tax of the Lake City Borough."
A realty transfer tax for general revenue purposes is hereby imposed upon the transfer of real estate or interest in real estate situated within the Lake City Borough, regardless of where the documents making the transfer are made, executed or delivered, or where the actual settlements on such transfer took place as authorized by Article XI-D, Local Real Estate Transfer Tax, 72 P.S. § 8101-D et seq.
Any deed, instrument or writing which conveys, transfers, demises, vests, confirms or evidences any transfer or demise of title to real estate, but does not include wills, mortgages, deeds of trust or other instruments of like character given as security for a debt and deeds of release thereof to the debtor, land contracts whereby the legal title does not pass to the grantee until the total consideration specified in the contract has been paid or any cancellation thereof unless the consideration is payable over a period of time exceeding 30 years, or instruments which solely grant, vest or confirm a public utility easement. "Document" shall also include a declaration of acquisition required to be presented for recording under § 65-2 of this chapter.
FAMILY-FARM CORPORATION
All lands, tenements or hereditaments within the Borough of Lake City, including without limitation, buildings, structures, fixtures, mines, minerals, oil, gas, quarries, spaces with or without upper or lower boundaries, trees and other improvements, immovables or interests which by custom, usage or law pass with a conveyance or land, but excluding permanently attached machinery and equipment in an industrial plant.
A tenant-stockholder's interest in a cooperative housing corporation, trust or association under a proprietary lease of occupancy agreement.
Any interest in real estate enduring for a fixed period of years but which, either by reason of the length of the term or the grant of a right to extend the term be renewal or otherwise, consists of a group of rights approximately those of an estate in fee simple, life estate or perpetual leasehold, including without limitation a leasehold interest or possessory interest under a lease or occupancy agreement for a term of 30 years or more or a leasehold interest or possessory interest in real estate in which the lessee has equity.
In the case of any bona fide sale of real estate at arm's length for actual monetary worth, the amount of the actual consideration therefor, paid or to be paid, including liens or other encumbrances thereon existing before the transfer and not removed thereby, whether or not the underlying indebtedness is assumed, and ground rents, or a commensurate part thereof where such liens or other encumbrances and ground rents also encumber or are charged against other real estate, provided that where such documents shall set forth a nominal consideration, the "value" thereof shall be determined from the price set forth in or actual consideration for the contract of sale:
In the case of an easement or other interest in real estate the value of which is not determinable under Subsection A or B of this definition, the actual monetary worth of such interest; or
It is the intent of this resolution that the entire burden of the tax imposed herein on a person or transfer shall not exceed the limitations prescribed in the Local Tax Enabling Act, Act of December 31, 1965, P.L. 1257, 53 P.S. § 6901 et seq., so that if any other political subdivision shall impose or hereafter shall impose such tax on the same person or transfer, then the tax levied by Lake City Borough under the authority of that Act shall, during the time such duplication that the tax exists, except as hereinafter otherwise provided, be 1/2 of the rate, and such 1/2 rate shall become effective without any action on the part of Lake City Borough; provided, however, that Lake City Borough and any other political subdivision which impose such tax on the same person or transfer may agree that, instead of limiting their respective rates to 1/2 of the rate herein provided, they will impose respectively different rates, the total of which shall not exceed the maximum rate permitted under the Local Tax Enabling Act.
The United States, the commonwealth or any of their instrumentalities, agencies or political subdivisions shall be exempt from payment of the tax imposed by this chapter. The exemption of such governmental bodies shall not, however, relieve any other party to a transaction from liability for the tax.
The tax imposed by § 65-4 shall not be imposed upon:
A transfer to the commonwealth, or to any of its instrumentalities, agencies or political subdivisions, by gift. dedication or deed in lieu of condemnation or deed of confirmation in connection with condemnation proceedings, or a reconveyance by the condemning body of the property condemned to the owner of record at the time of condemnation which reconveyance may include property fine adjustments, provided that said reconveyance is made within one year from the date of condemnation.
A document which Lake City Borough is prohibited from taxing under the Constitution or statutes of the United States.
A transfer for no nominal actual consideration which corrects or confirms a transfer previously recorded, but which does not extend or limit existing record legal title or interest.
A transfer of division in kind for no nominal actual consideration of property passed by testate or intestate succession and held by covenants; however, if any of the parties takes shares greater in value than their undivided interest, tax is due on the excess.
A transfer between husband and wife, between persons who were previously husband and wife who have since been divorced, provided that the property or interest therein subject to such transfer was acquired by the husband and wife or husband or wife prior to the granting of the final decree in divorce; between parent and child or the spouse of such child, between brother or sister or the spouse of a brother or sister and brother or sister or the spouse of a brother or sister; and between a grandparent and grandchild or the spouse of such grandchild, except that a subsequent transfer by the grantee within one year shall be subject to tax as if the grantor were making such transfer.
A transfer for no or nominal actual consideration between principal and agent or straw party; or from or to an agent or straw party where, if the agent or straw party were his principal, no tax would be imposed under this chapter. Where the document by which title is acquired by a grantee or statement of value fails to set forth that the property was acquired by the grantee from, or for the benefit of, his principal, there is a rebuttable presumption that the property is the property of the grantee in his individual capacity if the grantee claims an exemption from taxation under this claim.
A transfer made pursuant to the statutory merger or consolidation of a corporation or statutory division of a nonprofit corporation, except where the department reasonably determines that the primary intent for such merger, consolidation or division is avoidance of the tax imposed by this chapter.
A transfer between religious organizations or other bodies or persons holding title for a religious organization if such real estate is not being or has not been used by such transferor for commercial purposes.
A transfer between members of the same family of an ownership interest in a real estate company or family-farm corporation.
Except as otherwise provided in § 65-6, documents which make, confirm or evidence any transfer or demise of title to real estate between associations or corporations and the members, partners, shareholders or stockholders thereof are fully taxable. For the purposes of this chapter, corporations and associations are entities separate from their members, partners, stockholders or shareholders.
With respect to real estate acquired after February 16, 1986, a family-farm corporation is an acquired company when, because of voluntary or involuntary dissolution, it ceases to be a family-farm corporation or when, because of issuance or transfer of stock or because of issuance or transfer of stock or because of acquisition or transfer of assets that are devoted to the business of agriculture, it fails to meet the minimum requirement of a family-farm corporation under this resolution.
The tax herein imposed shall be fully paid, and have priority out of the proceeds of any judicial sale of real estate before any other obligation, claim, lien, judgment, estate or costs of the sale and of the writ upon which the sale is made, except the state realty transfer tax, and the Sheriff or other officer conducting said sale shall pay the tax herein imposed out of the first moneys paid to him in connection therewith. If the proceeds of the sale are insufficient to pay the entire tax herein imposed, the purchaser shall be liable for the remaining tax.
As provided in 16 P.S. § 11011-6, as amended by Act of July 7, 1983 (P.L. 40, No. 21), the Recorder of Deeds shall be the collection agent for the local realty transfer tax, including any amount payable to Lake City Borough based on a redetermination of the amount of tax due by the Commonwealth of Pennsylvania of the Pennsylvania realty transfer tax, without compensation from Lake City Borough.
On or before the 10th of each month, the Recorder shall pay over to the Lake City Borough all local realty transfer taxes collected, less 2% for use of the county, together with a report containing the information as is required by the Commonwealth of Pennsylvania in reporting collections of the Pennsylvania realty transfer tax. The 2% commission shall be paid to the county.
If additional realty transfer tax is determined to be due to the Commonwealth, the Recorder of Deeds for Erie County shall collect a like amount for Lake City Borough, but without interest and penalty; if a refund is determined to be due by the commonwealth, the Recorder of Deeds for Erie County shall refund a like amount, without interest and charge said refund to Lake City Borough on the monthly report for the month in which the refund is made.
Every document lodged with or presented to the Recorder of Deeds for recording, shall set forth therein and as a part of such document the true, full and complete value thereof, or shall be accompanied by a statement of value executed by a responsible person connected with the transaction showing such connection and setting forth the true, full and complete value thereof or the reason, if any, why such document is not subject to tax under this chapter. A copy of the Pennsylvania realty transfer tax statement of value may be submitted for this purpose. The provisions of this subsection shall not apply to any excludable real estate transfers which are exempt from taxation based on family relationship. Other documents presented for the affixation of stamps shall be accompanied by a certified copy of the document and a statement of value executed by a responsible person connected with the transaction showing such connection and setting forth the true, full and complete value thereof or the reason, if any, why such document is not subject to tax under this chapter.
In the case of failure to record a declaration required under this chapter on the date prescribed therefor, unless it is shown that such failure is due to reasonable cause, there shall be added to the tax 5% of the amount of such tax if the failure is for not more than one month, with an additional 5% for each additional month or on thereof during which such failure continues, not exceeding 50% in the aggregate.
The tax imposed by this chapter shall become a lien upon the lands, tenements or hereditaments, or any interest therein, lying, being situated, wholly or in part within the boundaries of Lake City Borough, which lands, tenements, hereditaments or interest therein, are described in or conveyed by or transferred by the deed which is the subject of the tax imposed, assessed and levied by this chapter, said lien to begin at the time when the tax under this chapter is due and payable, and continue until discharge by payment, or in accordance with the law, and the solicitor is authorized to file a municipal or tax claim in the Court of Common Pleas of Erie County, in accordance with the provisions of the Municipal Claims and Liens Act of 1923, 53 P.S. § 7101 et seq., its supplements and amendments.
The Treasurer of Lake City Borough is charged with enforcement and collection of tax and is empowered to promulgate and enforce reasonable regulations for enforcement and collection of the tax. The regulations which have been promulgated by the Pennsylvania Department of Revenue under 72 P.S. § 8101-C et seq. are incorporated into and made a part of this chapter.