THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.
Bulletin: PA000014
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Bulletin: PA000014
Dear Associates:
Attached please find the latest list of Common Level Ratios for computing fair market property values on which the Commonwealth derives the basis for the transfer tax. The list is effective January 1, 2007 through June 30, 2007. Unless the consideration is stated in the deed the Affidavit of Value must be attached to the deed reflecting this calculation. You can find the history of the Common Level Ratios for all counties back to 1986 at https://www.revenue.pa.gov/TaxTypes/RTT/Pages/Common%20Level%20Ratios.aspx.
The Commonwealth of Pennsylvania charges 1% of the consideration for transfer taxes and local municipalities are permitted to charge a percentage of the consideration for which their yearly budget has the need. This list shows only those local municipal transfer tax rates which are OTHER THAN the standard 1%.
Please note that the Cities of Scranton and Reading very recently raised their transfer taxes.
Please contact a Stewart Pennsylvania underwriter if you have any questions concerning this or any other topic for which you need assistance.
| PENNSYLVANIA DEPARTMENT OF REALTY TRANSFER TAX 2005 COMMON LEVEL RATIO REAL ESTATE VALUATION FACTORS | December 2006 |
The following real estate valuation factors are based on sales data compiled by the State Tax Equalization Board in 2005. These factors are the mathematical reciprocals of the actual common level ratio. For Pennsylvania Realty Transfer Tax purposes, these factors are applicable for documents accepted from July 1, 2006 to June 30, 2007, except as indicated below. The date of acceptance of a document is rebuttably presumed to be its date of execution, that is, the date specified in the body of the document as the date of the instrument (61 Pa. Code § 91.102).
COUNTY | COMMON LEVEL RATIO | COUNTY | COMMON LEVEL RATIO | COUNTY | COMMON LEVEL RATIO FACTOR |
Adams | 3.98 | *Elk | 2.18 | ***Montour | 1.00 |
Allegheny | 1.10 | Erie | 1.18 | Northampton | 3.18 |
Armstrong | 2.70 | Fayette | 1.14 | Northumberland | 3.64 |
Beaver | 3.31 | Forest | 4.83 | Perry | 1.33 |
Bedford | 5.47 | Franklin | 9.35 | Philadelphia | 3.50 |
Berks | 1.33 | Fulton | 2.61 | Pike | 5.47 |
Blair | 12.20 | Greene | 1.21 | Potter | 2.72 |
Bradford | 2.63 | Huntingdon | 7.46 | Schuylkill | 2.48 |
Bucks | 10.10 | **Indiana | 5.88 | Snyder | 4.94 |
Butler | 10.20 | Jefferson | 1.85 | Somerset | 2.71 |
Cambria | 3.60 | Juniata | 6.21 | Sullivan | 1.52 |
Cameron | 3.08 | Lackawanna | 5.95 | Susquehanna | 2.84 |
Carbon | 2.74 | Lancaster | 1.22 | Tioga | 1.25 |
Centre | 3.24 | Lawrence | 1.14 | ***Union | 1.00 |
Chester | 1.82 | Lebanon | 6.80 | Venango | 1.05 |
Clarion | 5.38 | Lehigh | 3.16 | Warren | 2.93 |
Clearfield | 5.47 | Luzerne | 17.24 | Washington | 7.30 |
Clinton | 4.24 | Lycoming | 1.10 | Wayne | 1.23 |
Columbia | 3.47 | McKean | 1.09 | Westmoreland | 5.10 |
Crawford | 3.02 | Mercer | 3.68 | Wyoming | 4.59 |
Cumberland | 1.14 | Mifflin | 2.18 | ***York | 1.00 |
Dauphin | 1.33 | Monroe | 7.09 |
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Delaware | 1.55 | Montgomery | 1.87 |
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* Adjusted by the Department of Revenue to reflect assessment ratio change effective January 1, 2006.
** Revised by the State Tax Equalization Board. Adjusted by the Department of Revenue to reflect assessment ratio change effective
January 1, 2006.
*** Adjusted by the Department of Revenue to reflect assessment base change effective January 1, 2006. Adjusted by the Department of Revenue to reflect assessment ratio change effective January 1, 2007.
MUNICIPAL TRANSFER TAXES
January 1, 2007
ALLEGHENY COUNTY
Bellevue - 1 ½%
Bethel Park -1 ½%
Greentree - 1 ½%
Hampton- 1 ½%
McCandless - 1 ½%
McKeesport - 2%
Monroeville - 1 ½%
Mt. Lebanon - 1 ½%
Mt. Oliver - 2%
O'Hara - 1 ½%
Penn Hill - 2%
Pine - 1 ½%
Pittsburgh City - 3%
Upper St. Clari - 1 ½%
West Deer - 1 ½%
Whitehall - 1 ¼%
BEAVER COUNTY
Georgetown -1/2%
Hookstown - 1/2%
BERKS COUNTY
Reading City 4%
CENTRE COUNTY
Taylor -1/2%
Ferguson -1 ¾%
State College Boro - 1 ½%
CHESTER COUNTY
Coatesville City -2%
Tredyffrin - 1 ½%
CLINTON COUNTY
Colebrook - 1/2%
East Kating -1/2%
Logan -1/2%
DELAWARE COUNTY
Radnor - 1 ½%
Upper Providence - 1 ½%
LACKAWANNA COUNTY
Scranton City -3%
LUZERNE COUNTY
Kingston - 1 ½%
Wilkes-Barre City -2%
MERCER COUNTY
Farrell City -2%
Hermitage City - 1 ½%
Sheakleyville - 0%
PHILADELPHIA COUNTY
Philadelphia City -3%
SOMERSET COUNTY
Wellersburg - 1/2%
WASHINGTON COUNTY
Peters - 1 ½%
ADD ANOTHER 1% FOR THE COMMONWEALTH OF PENNSYLVANIA FOR THE TOTAL TRANSFER TAXES DUE
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None