For the privilege of occupancy in any hotel, each transient is subject to and shall pay a tax in the amount of fourteen percent of the rent charged by the operator or otherwise payable by the transient. Insofar as the transient is concerned, said tax constitutes a debt owed by the transient to the city which is extinguished only by payment to the operator or to the city. The transient shall pay the tax to the operator of the hotel at the time the rent is paid. For purposes of this section, the rent deemed payable on account of time-share occupancy by a transient shall be the rental value of the unit or room(s) which accommodated such occupancy, which rental value shall be computed by determining the pro rata share of the total actual purchase price of the time-share right or entitlement (whether or not involving any estate or any ownership in real property), or, if the unit has not yet been sold at the time of rental, then the pro rata share of the current listed sales price or the comparable price if not listed for sale, which share is allocable to the period of transient occupancy currently involved, and adding thereto the total applicable operating costs including, but not limited to, the applicable real and personal property taxes, plus the total amount of any and all fees, assessments, charges and expenses (not including the previously referred to taxes) charged by the operator as attributable to the time-share occupancy of the transient by whatever name such fees, assessments, charges or expenses may be denominated, whether “occupying fee,” “maintenance or operations charge,” “per diem fee,” “management fee” or like name or otherwise. In making the computation referred to above of the pro rata share of the total purchase price or other applicable price, in any case wherein the time-share right or entitlement is in perpetuity or for life or otherwise not for a definite or ascertainable term, such proration shall be made upon an assumed term of thirty years. (Ord. 2018-08 § 1, 2018; Ord. 2014-06 § 2, 2014; Ord. 87-3 § 1, 1987; Ord. 83-9 § 2, 1983; Ord. 82-10 § 1, 1982; Ord. 76-7 § 3, 1976)