|
The Notarial
Archives is contracted by the City to collect the Documentary
Transaction Tax. Click to see History (referred to
herein as Doc Tax). This tax is paid for at the time of recording in the
Notarial Archives if not a billing form must be filled out and the tax
must be paid within thirty (30) days of the recording date. If not paid
within 30 days, interest and a penalty of $500 is assessed. A bill will be sent
after the time period with this penalty.
The Doc Tax applies
to all documents recorded that are transferring real estate. To view
reference of past ordinances click here. For example:
Sales, Donations, Transfers, Mortgages, and Commercial Leases.
The parties responsible for payment of Doc Tax are the Seller, Donor,
Mortgagor or party recording the commercial lease.
All of the above
documents are assessed a flat tax of $325.00 except mortgages whose loan
amount is under $9,000.00. If less the scale is as follows:
Under $3,000.00 ..... $75.00
$3,000.01 to $6,000.00 .....
$125.00
$6,000.01 to $9,000.00
.....$175.00
If a taxable
document is a not single-family residence or residential double and it
exceeds 25 pages this includes front and back of all pages of said
document, then an extra $100.00 per page is assessed to the maximum of
$2,525.00. If a taxable document is a single-family residence or
residential double and exceeds 25 pages, than a notarized statement is
required stating that the property is an owner occupied single-family
residence or residential double in order to still pay $325.00.
To see
latest ordinance (Ordinance #20527) click here.
This refers to the extension from 10 pages to 25 pages allowed on
Mortgages in order to still pay $325.00.
Related Documents
History:
Division 1. Generally
History:
Division 2. Imposition and Collection
Past
Documentary Transaction Tax Ordinances
Latest
Ordinance
#20527
|