Purchasing or selling a home in State College, PA just got a bit pricier. The Borough of State College, County of Centre starting January 1, 2015 will be taxing real estate transactions at a rate of 3%. 1% as usual to the Commonwealth of Pennsylvania, 1.5% to the Borough and .5% to the School District. All taxable documents submitted for recording after January 1, 2015 will will be subject to the new rate regardless of the acceptance date of document.
We as a PA Title Insurance company will have our GFE Calculators changed and all prelims that are currently under process updated accordingly.