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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.
In the USA, total transfer taxes can range between very small (for example, .01% in Colorado) to relatively large (4% in the city of Pittsburgh). [2] [3]Some U.S. states have a variety of transfer tax laws which may include specific exemptions for certain types of buyers based on buying status or income level.
State, county and municipal governments impose real estate transfer taxes, although some regions have 0% transfer taxes. Generally, the purpose of real estate transfer taxes is to generate revenue ...
The largest property tax exemption is the exemption for registered non-profit organizations; all 50 states fully exempt these organizations from state and local property taxes with a 2009 study estimating the exemption's forgone tax revenues range from $17–32 billion per year. [53] Exemptions can be quite substantial.
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.
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 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. [1]
(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.