The Notarial Archives is contracted by the City to collect the Documentary Transaction Tax. Click to see History (referred to herein as Doc Tax). This tax is paid for at the time of recording in the Notarial Archives if not a billing form must be filled out and the tax must be paid within thirty (30) days of the recording date. If not paid within 30 days, interest and a penalty of $500 is assessed. A bill will be sent after the time period with this penalty.
The Doc Tax applies to all documents recorded that are transferring real estate. To view reference of past ordinances click here. For example: Sales, Donations, Transfers, Mortgages, and Commercial Leases. The parties responsible for payment of Doc Tax are the Seller, Donor, Mortgagor or party recording the commercial lease.
All of the above documents are assessed a flat tax of $325.00 except mortgages whose loan amount is under $9,000.00. If less the scale is as follows:
Under $3,000.00 ..... $75.00
$3,000.01 to $6,000.00 ..... $125.00
$6,000.01 to $9,000.00 .....$175.00
If a taxable document is a not single-family residence or residential double and it exceeds 25 pages this includes front and back of all pages of said document, then an extra $100.00 per page is assessed to the maximum of $2,525.00. If a taxable document is a single-family residence or residential double and exceeds 25 pages, than a notarized statement is required stating that the property is an owner occupied single-family residence or residential double in order to still pay $325.00.
To see latest ordinance (Ordinance #20527) click here. This refers to the extension from 10 pages to 25 pages allowed on Mortgages in order to still pay $325.00.