TC Ord. No. 1997-12 Amending Chapter 3.12 of the Avon Muni Code as it relates to exemptions from real estate transfer taxTOWN OF AVON
ORDINANCE NO. 97 -12
AN ORDINANCE AMENDING CHAPTER 3.12 OF THE MUNICIPAL
CODE OF THE TOWN OF AVON AS IT RELATES TO EXEMPTIONS
FROM THE REAL ESTATE TRANSFER TAX
BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF AVON
as follows:
Section 1. Amendment. Section 3.12.060(0) of Chapter
3.12, Title 3 of the Municipal Code of the Town of Avon is
amended to read as follows:
110. The first one hundred sixty thousand dollars of the
consideration for any sale or conveyance of real property and
completed improvements for occupancy as a primary residence
provided the following conditions are met:
1. The same applicant has not previously received an
exemption pursuant to this subsection 0.
2. An application for exemption is filed with the town
manager- prior to payment of the tax, which application is
accompanied by (a) an affidavit that the real property is being
purchased for use as a primary residence and not for investment
or resale and (b) a promissory note in the amount of the tax
otherwise owing and providing that the tax and the promissory
note shall be due and payable in full in the event of resale of
the property within one year after closing."
Section 2. Effective Date. This ordinance shall become
effective and apply to sales closing on and after
January 1, 1998
INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED POSTED,
this 25th day of November_, 1997, and a public hearing on this
Ordinance shall be held at the regular meeting of the Town
Council of the Town of Avon, Colorado on the 9th day of
December 1997, at 5:30 P.M. in the Municipal Building of the
Town of Avon, Colorado.
;:AT T:
Town C I elqk
Mayor
INTRODUCED, PASSED ON SECOND READING, APPROVED AND ORDERED POSTED
this 9th day of December_, 1997.
i
ATTES
Town Clerk
APP40VE9 AS TO FORM:
b,
Tow Attorney
STATE OF COLORADO )
COUNTY OF EAGLE ) SS
TOWN OF AVON )
NOTICE IS HEREBY GIVEN OF A PUBLIC HEARING BEFORE THE TOWN
COUNCIL OF THE TOWN OF AVON, COLORADO AT 5:30 P.M. ON THE 9TH
DAY OF DECEMBER, 1997, AT THE TOWN'MUNICIPAL BUILDING FOR THE
PURPOSE OF CONSIDERING THE ADOPTION OF ORDINANCE NO. 97 -12
SERIES OF 1997: -
AN ORDINANCE AMENDING CHAPTER 3.12 OF THE MUNICIPAL CODE
OF THE TOWN OF AVON AS IT RELATES TO EXEMPTIONS FROM THE
REAL ESTATE TRANSFER TAX
A copy of said Ordinance is attached hereto; and is also on file
at the office of the Town Clerk, and may be inspected during
regular business hours.
Following this hearing, the Council may consider final passage of
this Ordinance.
This notice is given and posted by order of the Town Council of
the Town of Avon, Colorado
Dated this 26th day of November, 1997.
BY:
AVON, COLORADO
Patty La ert, CMC
Town Clerk,
POSTED AT THE FOLLOWING PUBLIC'PLACES WITHIN THE TOWN OF AVON ON
NOVEMBER 26, 1997;
EAGLEBEND APARTMENTS - CLUBHOUSE LAUNDRY;
CITY MARKET IN THE MAIN LOBBY
COASTAL MART, INC.; AND
AVON MUNICIPAL BUILDING IN THE MAIN LOBBY