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A real estate transfer tax, sometimes called a deed transfer tax or documentary stamp tax, is a one-time tax or fee imposed by a state or local jurisdiction upon the transfer of real property.
The Pennsylvania Department of Revenue (DOR) is an agency of the U.S. state of Pennsylvania.The department is responsible for collecting all Pennsylvania taxes, including all corporate taxes and taxes on inheritance, personal income, sales and use, realty transfer, motor fuel, and all other state taxes.
Real estate transfer taxes have become controversial in some U.S. jurisdictions seeking to increase transfer taxes on higher end property sales to help combat issues like homelessness. 2022's Chicago's Bring Chicago Home initiative, seeks to increase transfer taxes on $1 million transactions by 253% or t o 2.65% or $26,500 per million dollar of ...
Moore, 178 U.S. 41 (1900), confirmed that the estate tax was a tax on the transfer of property as a result of a death and not a tax on the property itself. The taxpayer argued that the estate tax was a direct tax and that, since it had not been apportioned among the states according to population, it was unconstitutional.
Eric Scicchitano, The Daily Item, Sunbury, Pa. March 15, 2024 at 1:19 PM. ... Another from Kutz would provide an exemption for first-time homebuyers to the Realty Transfer Tax.
Daniel Kaiser to KPG Holdings LLC, 316 Federal Street, $1 (Pennsylvania realty transfer tax paid on county computed value of $60,739.) Howard Wood to JJ Estate Investment LLC, 236 S. Tenth St ...
The tax liability arises on 1 January of the tax period following the tax period in which the taxpayer became the owner, administrator, tenant, or user of the taxable property and expires on 31 December of the tax period in which the taxpayer lost ownership, administration, lease or use of the real estate.
(Pennsylvania realty transfer tax paid on county computed assessed value of $187,620.) Donald E. Schlegel Jr. to Elm Street Mennonite Church, 501 Elm St., $160,000. North Lebanon Township