Rev 183 ex 2004 form-2025

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The document is a Realty Transfer Tax Statement of Value form used in Pennsylvania, which must be completed and filed when the full value of a property transfer is not disclosed, or when claiming tax exemptions. It includes sections for correspondent information, transfer data, property location, valuation data, and exemption claims. The form requires detailed information about the parties involved, property details, consideration amounts, and any exemptions being claimed. Proper completion is necessary to avoid refusal of deed recording.

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What is the real estate transfer tax in Allegheny County PA?

In Allegheny County, the realty transfer tax ranges from 2%-5% of the total consideration of a property, with 1% submitted to the State, and the remainder going to the Municipality and School District for the property.

How to avoid PA transfer tax between family members?

Most real estate transfers between family members are exempt from this tax, such as transfers between: Spouses. Direct ascendants and descendants (grandparents to grandchildren, parents to children, etc.) Siblings (including legally adopted and half siblings)

Who pays transfer tax in PA, buyer or seller?

The 2% Transfer Tax is paid at the time of recording. State and local governments do not stipulate who pays the Transfer Tax. In most sale agreements, the seller and buyer divide the tax. However, the new owner is responsible if there is any question over the amount paid.

Who is exempt from realty transfer tax in PA?

Some real estate transfers are exempt from realty transfer tax, including certain transfers among family members, to governmental units, between religious organizations, to shareholders or partners and to or from nonprofit industrial development agencies.

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