Form Rev-183 Ex - Realty Transfer Tax Statement Of Value (Page 2 of 2) in pdf

INSTRUCTIONS FOR COMPLETING REALTY TRANSFER TAX STATEMENT OF VALUE

“Will or Intestate Succession” - A transfer by Will for no or

SECTION A

nominal consideration, or under the intestate succession

Correspondent: Enter the name, address and telephone

laws is exempt from tax. Provide the name of the decedent

number of party completing this form.

and estate file number in the space provided.

“Transfer to a Trust” - A transfer for no or nominal consider-

SECTION B

ation to a trust is exempt from tax when the transfer of the

same property would be exempt from tax if the transfer were

Transfer Data: Enter the date on which the deed or other

made directly by the grantor to all the possible (including con-

document was accepted by the Party(ies). Enter the name

tingent) beneficiaries. Attach a complete copy of the trust

and address of the Grantor(s)/Lessor(s) and Grantee(s)/

agreement and identify the grantor’s relationship to each

Lessee(s). You must list all names. Attach additional sheet(s)

beneficiary.

with full name and address of parties involved, if necessary.

“Transfer Between Principal and Agent” - A transfer

SECTION C

between an agent or principal for no or nominal consideration

Property Location: This section deals with the property

is exempt. Attach a complete copy of the agency/straw party

being transferred; complete fully. Include the tax parcel num-

agreement.

ber where applicable and the county where the Statement is

“Transfer to the Commonwealth, the United States and

being filed.

Instrumentalities by Gift, Dedication, Condemnation or in

Lieu of Condemnation.” - If the transfer is by condemnation

SECTION D

or in lieu of condemnation, attach a copy of the resolution.

Valuation Data: Complete for all transactions

“Transfer from Mortgagor to Holder of a Mortgage in

1. Actual Cash Consideration – Enter that amount.

Default” - A transfer from a mortgagor to a holder of a mort-

gage in default, whether pursuant to a foreclosure or in lieu

2. Other Consideration – Enter the total amount of non-

thereof, is exempt. Provide the mortgage book number and

cash consideration such as property and securities.

page number where mortgage is recorded.

Include mortgages and liens existing before the transfer

and not removed thereby, and the agreed consideration

“Corrective Deed” - A deed for no or nominal consideration

for the construction of improvements.

which corrects or confirms a deed that was recorded previ-

ously but does not extend or limit the title or interest under the

3. Total Consideration – Indicate on line 3 the total of lines

prior deed is exempt from tax. Attach a complete copy of the

1 and 2. This will be the total consideration for the pur-

prior deed being corrected or confirmed.

chase of the property.

“Statutory Consolidation, Merger or Division” - A transfer

4. County Assessed Value - Enter the actual assessed

made pursuant to the statutory consolidation or merger of a

value of the property as per records of the county assess-

corporation (15 Pa. C.S. §1921-1932 or 15 Pa. C.S. §5921-

ment office.

5930) or the statutory division of a nonprofit corporation

5. Common Level Ratio Factor – Enter the county com-

(15 Pa. C.S. §5951-5957) is exempt from tax. Attach a copy

mon level ratio factor applicable for the county in which

of the articles of consolidation, merger or division.

the property is located. An explanation of this factor is

“OTHER” (PLEASE EXPLAIN EXEMPTION CLAIMED IF

provided below.

OTHER THAN THOSE LISTED ABOVE.)-

6. Fair Market Value – Multiply the county assessed value

When claiming an exemption other than those listed, you

(4) and the county common level ratio factor (5) and enter

must specify which exemption is claimed. When possible,

the result in block 6.

provide the applicable statutory citation. Attach additional

pages, if necessary. Attach a copy of applicable documen-

SECTION E

tation.

Exemption Data: Complete only for transactions where an

COMMON LEVEL RATIO FACTOR

exemption is claimed.

This is a property valuation factor provided by the PA

1a. Amount of Exemption Claimed - Enter the dollar

Department of Revenue by which the county assessed value

amount of the total consideration claimed as exempt.

is multiplied to determine the taxable value of real estate for

all nonarm’s length transactions, leases and acquired compa-

1b. Percentage of Interest Conveyed - Enter the percent-

nies. The factor is based on the common level ratio estab-

age of interest conveyed.

lished by the State Tax Equalization Board. The common

2. Check Appropriate Box for Exemption Claimed -

level ratio is a ratio of assessed values to current fair market

Boxes are provided for the most often used Pennsylvania

values as reflected by actual sales of real estate in each

realty exemptions. Each is explained in order of appear-

county. A statewide list of the factors is available at the

ance on the Realty Transfer Statement of Value form.

Recorder of Deeds’ office in each county.

THIS STATEMENT MUST BE SIGNED BY A RESPONSIBLE PERSON CONNECTED WITH THE TRANSACTION.

RETURN TO PAGE 1

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Form Rev-183 Ex - Realty Transfer Tax Statement Of Value Page 2

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