HomeMy WebLinkAbout1467 - Property Development TaxORDINANCE NO. 1467
AN ORDINANCE OF THE CITY OF NEWPORT BEACH
AMENDING SECTIONS 3.12.030 AND 3.12.040 OF
THE NEWPORT BEACH MUNICIPAL CODE TO PROVIDE
FOR AN INCREASE IN THE EXCISE TAX IMPOSED
UNDER CHAPTER 3.12, ENTITLED "PROPERTY
DEVELOPMENT TAX," AND DELETING SECTION 3.12.050
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, in-
dustrial unit, and mobilehome park in the City in the amount
of $.15 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°A),
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. Section 3.12.040 of the Newport Beach
Municipal Code is amended to read:
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"3.12.040 Operative Date. The tax imposed by this
Chapter shall apply to the construction and occupancy of
all residential, commercial, industrial units, and mobile -
home parks for which a building or construction permit is
issued on or after the effective date of this ordinance."
SECTION 3. Section 3.12.050 of the Newport Beach
Municipal Code is hereby repealed.
SECTION 4. 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
day of AUG 2 8 1972 , 1972, and was adopted on the day
of SEP25 1972 1972, by the following vote, to wit:
ATTEST:
Gto
City Clerk
CERTIFIED AS THE ORIGINAL AND
CERTIFIED AS TO PUBLICATION
TE .
SEP 27 1972
OF THE CITY OF NE
CITY Wi ORT BEACH
AYES, COUNCILMEN: Rogers, Croul, Distal,
Kvmla, Ryckoff, Store
NOES, COUNCILMEN:
ABSENT COUNCILMEN:
None
McInnis
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DON :mh
8/30/72