Ordinance No.

Date Approved

Comments

11261

7/14/86

This ordinance was suspended – see Resolution dated 7/17/86

11338

8/11/86

Ordinance (as amended) imposing Documentary Transaction Tax

11575

12/22/86

Defines “single-family residence” and provides for reduced tax on certain mortgages in amounts of $9,000 and less

11812

6/8/87

Provides for the rate of taxation for transfers of time-share condominium units

11924

7/20/87

Provides for reduced tax on certain mortgages in amounts of $9,000 and less; requires notarized statement pertaining to transactions exceeding ten pages and involving single-family residences; provides listing of numerous documents specifically exempted from the tax

12015

9/11/87

Provides that tax must be remitted and paid immediately upon filing of the instrument to the Director of Finance or Custodian of Notarial Records

12331

3/8/88

Provides that a collection of documents affecting the same residential property shall be considered a single transaction, provided that all documents are executed and filed within the same six-month period (see 12476 for deletion of time period)*

12476

5/26/88

Same as 12331, except time period deleted*

13442

10/9/89

Provides for a reduced tax of $100 for refinancing of an existing mortgage involving

only one single-family residence occupied by the mortgagor(s) on which there is an existing second mortgage funded by the City using Urban Development Action Grant funding

15166

5/11/92

Exempts certain mortgages by, and donations to, 501 (C) 3 organizations (see 15956 for deletion of time period)

15287

7/7/92

Exempts certain donations and transfers by or to tax-exempt organizations

City attorney memo dated 7/6/93 exempts purchases by a home builder of property for resale to a person for use as a personal residence; subsequent purchaser must pay the tax

15956

6/25/93

Same as 15166, except time period deleted

16714

10/28/94

Exempts certain mortgages in favor of State of Louisiana by certain individuals age 65 and older

16792

12/15/94

Exempts transfers of primary residence between spouses to declare formerly separate property as community property

17360

1/3/96

Exempts disaster relief loans by the SBA to small businesses related to the 5/8/95 flood

18736

7/12/98

Imposes an additional $25.00 Documentary Transaction Tax upon all taxable transactions occurring after July 1, 1998**

19386

9/16/99

Exempts disaster relief loans by the SBA to small businesses related to Hurricane Georges

*9/11/96 – Per Ursula Spencer. City interprets that this collection of documents must apply to one transaction (i.e., purchase and construction of residence) and not various documents, which apply to numerous transactions (i.e., second mortgages and refinancing).

**Per Ursula Spencer, each additional page over 10 pages is $100.00, with a cap of $2,525.00 per document.

9/18/00 – Per Brenda Williams, there are no further amendments to the ordinance as of this date.