There are various exemptions to the real estate transfer tax:
A. Transactions involving property acquired by or from any
governmental body or by any corporation, society, association,
foundation or institution organized and operated exclusively for
charitable, religious or educational purposes.
B. Transactions which secure debt or other obligation.
C. Transactions in which deeds, without additional consideration,
confirm, correct, modify or supplement deeds previously recorded.
D. Transactions in which the actual consideration is less than
one hundred dollars ($100.00).
E. Transactions in which the deeds are tax deeds.
F. Transactions which are releases of property which is security
for a debt or other obligation.
G. Transactions of partitions.
H. Transactions made pursuant to merges, consolidations or
transfers or sales of substantially all of the assets of a
corporation pursuant to plans of reorganization.
I. Transactions between subsidiary corporations and their parents
for no consideration other than the cancellation or surrender of the
subsidiary corporation's stock.
J. Transactions wherein there is an actual exchange of real
property except that the money difference or money's worth paid from
one to the other shall not be exempt from the tax.
K. Transactions representing transfers subject to the imposition
of a documentary stamp tax imposed by the government of the United
States. Every deed or other instrument which is tax exempt pursuant
to this section shall be presented to the director of finance and
administrative services so as to be appropriately marked by said
director as an exempt deed or instrument eligible for recordation
without the payment of tax. At such time as a deed or instrument is
presented to the director, a certificate setting forth the facts
which justify exemption shall be presented. (Ord. M-23-79, 9-4-1979)
| 
Real Estate Transfer Stamps
