Ordinance No. 18402 - Laserfiche WebLink

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r8Koz a property property is before the or, settlement under .the decree, provided the acquired by one or both of the spouses decree is issued; ~i~ made to a surviving spouse., or minor son or daughter under the~law governing decedent's estates. 3.846 Real-Pro ert ~-Transfer Tax -~ Rate. X17 Except a~s subsections ~.2 ~ and ~3 ~ of this section provide to the contrary, the amount of the tax on a transfer of an interest in real property is one percent of the value of the interest transferred. That ~ralue is the monetary worth of the transferred interest at the time of the transfer, as ~~a~ recited in the conveyance of the interest or, est the whichever ~2~ the city, the value amount of ~.~ ~~ Flo, ooo, 00 computing ~b~ indicated by the assessed value of the inter-~ as specified on the property rolls in the office of Lane County Assessor, value is the higher. Tf the property lies partly in and partly out of the tax applies only to the part in the city, and only of that part gay f~,gure in the computation of the tax due for the transfer. 2f the property is a single~fam~ily residence, _ ~of the value of the residence shall be excluded in the tax. 3.845 Real-Property-Transfer Tax,specification of Consideration. A conveyance of an interest in real property in the city shall specify the total actual consideration for the transfer effected by the conveyance or be accompanied by an affidavit by a licensed attorney or realtor or an accredited real property appraiser specifying the value of the interest and the amount of title insurance purchased incidental t~ the transfer to protect the transferee's interest in the property. 8.85o Real-Property-~Transf~er Tax - Admin,~stration. The finance officer shall collect all taxes dui under this ordinance and otherwise administer the ordinance, He~rnay, after due notice and hearing, promulgate rules, regulations, and forms necessary or expedient far administering the ordinance, including require- ments that licensed realtors and title insurance companies notify parties involved in transfers of interests in real property about the bearing of the city~s real-property-transfer tax on the trans- fers. 3. S52 Real-Property-Transfer Tax - Coi~~,ection. ~1~ A tax due under this ordinance is payable upon de- livery of the conveyance that effects the transfer ~n which the Ordinance ~- 2