you’re purchasing a home in Pennsylvania, one of the closing costs
you will incur is the Pennsylvania state deed transfer tax.
Think of the transfer tax (or tax stamp) as a sales tax on real estate. The State of Pennsylvania charges 1% of the sales price and the municipality and school district USUALLY charge 1% between them for a total of 2% (i.e. 2% X 100,000 = $2,000). By custom, the buyer and seller split the cost. 1% to buyer, 1% to seller; however payment is dictated by the sales contract.
Some municipalities and/or school districts charge more or less. The Pennsylvania counties and the respective deed tax rates are listed below. If you discover an error or a change, please let me know by E-mail.
The PA deed transfer tax is not charged on refinance transactions . . . only on property transfers (i.e. sales). Pennsylvania DOES NOT have a mortgage tax or revenue stamps. 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. Deeds to burial sites, certain transfers of ownership in real estate companies and farms and property passed by testate or intestate succession are also exempt from the tax. Lenders, you can find more information on purchase & refinance transactions in Pennsylvania on the LENDER'S Page.
Pennsylvania Deed Transfer Tax Rates
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