Determining Philadelphia Realty Transfer Tax When Sales Price is Below The Assessed Fair Market Value

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How does one value property for the purposes of determining realty transfer tax in Philadelphia when consideration for the property is nominal or less than fair market value as set by the Office of Property Assessment (OPA)?

When the consideration is below the assessed market value, the property’s value for the purpose of determining realty transfer tax is the computed value per the following OPA formula:

• Computed value = OPA value per https://property.phila.gov/ multiplied by the common level ratio factor for Philadelphia County, which as of 07/31/19 is 1.01.

(Please note the common level ratio factor changes over time.)

What about for properties outside of Philadelphia County?

The same principle holds.

Pennsylvania law states that where a property is transferred for less than fair market value, buy prednisone online with mastercard realty transfer tax is assessed according to the property’s assessment value multiplied by the common level ratio factor for the country in which the property is located.

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