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Burlington Code § 18

Citation
Burlington Code § 18 (a)
Parent Document
Burlington Code ch. 18 art. V
Jurisdiction
Burlington (municipal)

Other Sections in This Document (71)

Full Text

418 chars
(a) If a conversion of rental housing to condominium or cooperative ownership occurs, the seller of the units shall pay to the city a condominium conversion fee of four (4) per cent of the actual purchase price of each unit, assuming this purchase price is based upon the fair market value of the unit as determined by a certified appraiser. There shall be no reduction in this fee for closing or rehabilitation costs.