§ 21-19. Rate.

Latest version.

Documentary Transfer Tax shall be payable at the rate of fifty-five cents ($0.55) per five hundred dollars ($500.00) or fraction thereof, of net value transferred. As used in this article, "net value transferred" shall mean the value of total consideration for the interest transferred, less the amount of any liens and encumbrances remaining thereon at the time of transfer. When the value of consideration cannot be determined, the value of the interest transferred shall be used in lieu of consideration in determining the amount of tax.

(Ord. No. 3982, § 2 (part), 3-25-08)

                    
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