HomeMy WebLinkAbout1567 - Property Development TaxORDINANCE NO. 1567
AN ORDINANCE OF THE CITY OF NEWPORT BEACH
AMENDING SECTION 3.12.030 OF THE NEWPORT
BEACH MUNICIPAL CODE TO INCREASE THE AMOUNT
OF PROPERTY DEVELOPMENT TAX IMPOSED
• 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:
113.12.030 Imposition of Excise Tax. A. TAX IMPOSED.
An excise tax is hereby imposed upon the construction and
occupancy of each residential unit, commercial unit, industrial
unit, and mobilehome park in the City in the amount of $.165
per square foot of gross floor area for all classes of new
construction, including any area in a building designed
for the parking of vehicles.
B. 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 such
permit. If such tax is not fully paid on or before the due
date the permit is issued, the tax or the amount thereof not
paid shall thereupon become delinquent.
C. 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 percent (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 percent 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.
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This ordinance was introduced at a regular meeting
of the City Council of the City of Newport Beach held on the
10th day of June, 1974, and was adopted on the 24th
is day of Jame , 1974, by the following vote, to wit:
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AYES, COUNCILMEN: McInnis, Dostal,
Barrett, Kuehn, Rogers, Ryckoff, Store
NOES, COUNCILMEN: None
ABSENT COUNCILMEN: None
ATTEST: Mayor
City Clerk
CERTIFIED AS THE ORIGINAL AND
CERTIFIED AS TO PUBLICATION
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Olri CLERK OF THE TY OF PORT BEACH
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6/11/74