HomeMy WebLinkAbout1294 - Property Development TaxORDINANCE N0. '5204
AN ORDINANCE OF THE CITY OF NEWPORT BEACH
AMENDING SECTION 3.12.030 OF CHAPTER 3.12,
ENTITLED "PROPERTY DEVELOPMENT TAX ", OF TITLE 3
OF THE NEWPORT BEACH MUNICIPAL CODE TO PROVIDE
FOR AN INCREASE IN THE RATES OF THE EXCISE TAX
IMPOSED UNDER SAID CHAPTER
The City Council of the City of Newport Beach does ordain
as follows:
SECTION 1. Section 3.12.030 of the Newport Beach
Municipal Code is amended to read:
"3.12.030 Imposition of Excise Tax. A. TAX IMPOSED.
An excise tax is hereby imposed upon the construction and
occupancy of each residential unit, commercial unit, and
industrial unit in the City.
B. RATES. The rates of the excise tax hereby
imposed are as follows:
• 1. Residential: For each residential
unit: $125.00.
2. Commercial: For each commercial building
or commercial unit in a building, the amount of $.015 per
square foot of gross floor area, including any area in a
building designed for the parking of vehicles.
3. Industrial: For each industrial building
or industrial unit in a building, the amount of $.015 per
square foot of gross floor area9 including any area in a
building designed for the parking of vehicles.
C. DUE DATE. The amount of the tax due hereunder
shall be determined at the time a building permit is sought
for the construction of residential, commercial or industrial
units or buildings or for the construction or reconstruction
•' of any mobilehome park, and the full amount of the tax shall
be due and payable concurrently with the application for
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2/25/69
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such permit. If such tax is not fully paid on or before
the date the permit is issued, the tax or the amount
thereof not paid shall thereupon become delinquent.
D. DELINQUENCY, PENALTY, INTEREST. There shall
be added to the tax for any unit or so much of the tax as
becomes delinquent a penalty of twenty -five per cent (25%),
which shall thereupon become payable in the same manner
as the tax. The tax and penalty shall bear interest at the
rate of .58 of one per cent per month until paid."
SECTION 2. This ordinance shall be published once in
the official newspaper of the City, and the same shall be
effective 30 days after the date of its adoption.
This ordinance was introduced at a regular meeting of
the City Council of the City of Newport Beach held on the 24th
day of February , 1969, and was adopted on the loth day
of March , 1969, by the following vote, to wit:
ATTEST:
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<' FIED AS THE GINAL_
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;OC THE CITY OF PORT BEACH
.. -DATEi
AYES, COUNCILMEN': McInnis, Shelton,
Parsons, Marshall, Rogers, Hirth, Gruber
NOES, COUNCILMEN: None
ABSENT COUNCILMEN: None
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2/21/69