Exempts first-time home buyers from realty transfer tax in Pennsylvania.
Pennsylvania HB214 amends the Tax Reform Code of 1971 to exempt transfers of real estate to first-time home buyers from the realty transfer tax. A first-time home buyer is defined as someone who resides in Pennsylvania, is domiciled in a single-family residence, and has not owned or purchased a single-family residence before. The exclusion applies to transfers made on or after the effective date of the act.
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