General Area in 19128>Question Details

Kstierney, Home Seller in 19128

how is a deed transfer tax calculated in phila pa? I tink it's: 5.53 x the total OPA assessment = proertry value x 3% (5.53*35200*.03=$5869

Asked by Kstierney, 19128 Thu Sep 15, 2011

tax).wow?

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3
There are two issues
First. Is this a sale or a family transfer? There are cases of no transfer tax. There are also cases where the OPA value is used. If however this is a sale. Then it is 4 percent of the purchase price in philadelphia county. The contract was say who pays it. Usually it is divided 50/50 on contract but the contract must say it clearly.
0 votes Thank Flag Link Tue Oct 4, 2011
Transfer taxes within the city of Philadelphia are currently 4%. See the link below for my source.

That 4% is calculated from the agreed upon sales price of the home. Traditionally, this is split between the buyer and seller, but as with everything else, this arrangement is negotiable.

Please call if there is anything else you need.

Joshua Stein, REALTOR®
Long & Foster - Blue Bell
(215) 591-5676
joshua.stein@lnf.com
0 votes Thank Flag Link Fri Sep 16, 2011
I helped someone buy in the 19130 zip code once, $178k sales price. On their side of the transaction I have $2670.00 for city/county/state transfer taxes (which is 1.5% of that sales price) & $890 for state transfer taxes (.5% of that sales price) - I believe in Pennsylvania it's common for all of those transfer taxes to be split 50/50, so that would mean a total transfer tax of 4%?
0 votes Thank Flag Link Fri Sep 16, 2011
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