Form Rev-183 Ex - Realty Transfer Tax Statement Of Value Page 2
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1
2INSTRUCTIONS FOR COMPLETING REALTY TRANSFER TAX STATEMENT OF VALUE
realty exemptions. Each is explained in order of appear-
SECTION A
ance on the Realty Transfer Statement of Value form.
Enter the name, address and telephone number of party
completing this form.
Will or Intestate Succession – A transfer by will for no or
nominal consideration, or under the intestate succession
SECTION B
laws, is exempt from tax. Provide the name of the decedent
Enter the full names and addresses of all grantor(s)/lessor(s)
and estate file number in the space provided.
and all grantee(s)/lessee(s). Attach additional sheets if
Transfer to a Trust – A transfer for no or nominal consid-
necessary.
eration to a trust is exempt from tax when the transfer of the
same property would be exempt from tax if the transfer were
SECTION C
made directly by the grantor to all the possible (including
Enter the date the document was delivered to and accepted
contingent) beneficiaries. Attach a complete copy of the trust
by the grantee/lessee.
agreement and identify the grantor’s relationship to each
SECTION D
beneficiary.
This section identifies the real estate to be transferred. Com-
Transfer from a Trust – Enter the date the real estate was
plete fully, including the tax parcel number where applicable
conveyed to the trust by the prior deed. If the trust was
and the county where the statement is to be filed.
amended after that date, attach a complete copy of the orig-
inal trust and all amendments to the trust.
SECTION E
Indicate by checking YES or NO, as to whether the document
Transfer Between Principal and Agent/Straw Party – A
represents two or more transactions accomplished by an
transfer between an agent/straw party and principal for no or
assignment of the agreement of sale or by the use of a relo-
nominal consideration is exempt. Attach a complete copy of
cation arrangement. Complete for all transactions:
the agency/straw party agreement.
1. Actual Cash Consideration – Enter the amount of cash
Transfer to the Commonwealth, the U.S. and Instru-
or cash equivalent that the grantor received for the
mentalities by Gift, Dedication, Condemnation or in
transfer of the real estate.
Lieu of Condemnation. – If the transfer is by condemna-
tion or in lieu of condemnation, attach a copy of the resolu-
2. Other Consideration – Enter the total amount of non-
cash consideration that the grantor received for the
tion.
transfer of the real estate, such as property and securi-
Transfer from Mortgagor to Holder of a Mortgage in
ties. Include mortgages and liens existing before the
Default – A transfer from a mortgagor to a holder of a mort-
transfer and not removed thereby, and the agreed con-
gage in default, whether pursuant to a foreclosure or in lieu
sideration for the construction of improvements.
thereof, is exempt. Provide a copy of the mortgage and note,
3. Total Consideration – Enter the sum of Lines 1 and 2.
and any documentation evidencing the assignment thereof.
This will be the total consideration for the purchase of the
Corrective or Confirmatory Deed – A deed for no or nom-
real estate.
inal consideration that corrects or confirms a previously
4. County Assessed Value - Enter the actual assessed
recorded deed but does not extend or limit the title or inter-
value of the entire real estate, per records of the county
est under the prior deed is exempt from tax. Attach a com-
assessment office. Do not reduce the assessed value by
plete copy of the prior deed being corrected or confirmed.
the grantor’s fractional interest in the real estate.
Statutory Corporate Consolidation, Merger or Division –
5. Common Level Ratio Factor – Enter the common level
A document that evidences the transfer of real estate pur-
ratio factor for the county in which the real estate is
suant to the statutory consolidation or merger of two or more
located. An explanation of this factor is provided below.
corporations (15 Pa. C.S. §1921-1932 or 15 Pa. C.S. §5921-
6. Fair Market Value – Enter the product of Lines 4 and 5.
5930) – or the statutory division of a nonprofit corporation
(15 Pa. C.S. §5951-5957) – is exempt from tax. Attach a
SECTION F
copy of the articles of consolidation, merger or division.
Complete only for transactions claiming an exemption.
Other – When claiming an exemption other than those list-
1a. Amount of Exemption Claimed – Enter the dollar
ed, you must specify what exemption is claimed. When pos-
amount of the total consideration claimed as exempt.
sible, provide the applicable statutory and regulatory
citation. Attach additional pages, if necessary. Attach a copy
1b. Percentage of Grantor’s Interest in Real Estate –
of supporting documentation.
Enter the percentage of grantor’s ownership interest in
the real estate listed in Part C.
COMMON LEVEL RATIO FACTOR
1c. Percentage of Grantor’s Interest Conveyed – Enter
This is a property valuation factor provided by the PA Depart-
the fraction or percentage of grantor’s interest in the real
ment of Revenue by which the county assessed value is mul-
estate on Line 1b that the grantor conveyed to the
tiplied to determine the taxable value of real estate for all
grantee. For example, if you indicated on Line 1b that
non-arm’s-length transactions, leases and acquired compa-
grantor owns a 50 percent tenant-in-common interest in
nies. The factor is based on the common level ratio estab-
the real estate and grantor is conveying his entire 50
lished by the State Tax Equalization Board. The common
percent interest to the grantee, then you would enter
level ratio is a ratio of assessed values to current fair market
100 percent on this line.
values as reflected by actual sales of real estate in each
2. Check Appropriate Box for Exemption Claimed -
county. A statewide list of the factors is available at the
Boxes are provided for the most common Pennsylvania
Recorder of Deeds’ office in each county.
THIS STATEMENT MUST BE SIGNED BY A RESPONSIBLE PERSON CONNECTED WITH THE TRANSACTION.
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