Determination of transactions subject to tax.

New Orleans City Code § 150-392

in effect

Sec. 150-392. - Determination of transactions subject to tax. (a) For the purposes of this article, a collection or group of instruments, acts, writings, or document, affecting the same property, executed each by at least one of the parties executing the others, executed on the same day, shall be deemed to be a single transaction. (b) For the further purposes of this article, a collection or group of instruments, acts, writings or documents affecting the same property, which property is purchased by a land developer or home builder for the specific purposes of a single-family residence for resale to a person for use as a personal residence and to be occupied by such purchaser or for specific purpose of a single-family residence to be occupied by such developer, all documents involved in the development of such property, including, without limitation, sale, credit sale, mortgage, collateral mortgage, construction contract, acceptance of completion or substantial completion and release or cancellation of mortgage, whether or not the documents are executed on the same date, shall be deemed a single transaction and only the sale or credit sale to the person who uses and occupies the single-family residence shall be subject to the tax imposed by this article; provided that all documents related to this initial development of such property shall occur within a period of three years from the original acquisition of the property by the land developer or home builder to the acquisition and taking of possession and occupancy of the single-family residence by purchaser; and provided further that the property not be sold and then resold by the purchaser prior to the acquisition and taking possession and occupancy of the single-family residence. (c) For the further purposes of this article, a collection or group of instruments, acts, writings or documents affecting the same residential property, including all documents involved in the interim and permanent financing for the property, shall be considered a single transaction provided that the tax has been paid upon the filing of the documents in connection with the interim financing. (d) In the case of the execution of an instrument, act, writing, or document, evidencing or embodying a transaction under the terms of which more than one person is obligated to pay the tax provided for in this article, each and every one of such persons shall be obligated, jointly, severally and solidarily with the others, to pay the full tax due. (e) The taxpayer shall remit the full tax due to the department of finance. (Code 1956, § 17A-5)

Source: City of New Orleans, Code of Ordinances and Home Rule Charter (Municode Library, library.municode.com)URL: https://library.municode.com/la/new_orleans/codes/code_of_ordinances?nodeId=PTIICO_CH150TA_ARTVDOTRTA_DIV2IMCO_S150-392DETRSUTAFetched: 10/28/2026