HB842

Pennsylvania HB842 amends the realty transfer tax to allow deductions for certain residential property transfers.

Pennsylvania HB842 amends the realty transfer tax to allow deductions for transfers of residential property to buyers using the property as a primary residence, where the purchase price is not greater than 80% of the median purchase price in the county. It also allows deductions for transfers to buyers collecting Supplemental Security Income benefits or with a household income not exceeding 215% of the Federal poverty level. The deduction amount equals the tax paid at the time of transfer, and it applies to taxable years beginning after December 31, 2025.