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Philadelphia City Council Votes to Slash Realty Transfer Tax Rate in Half Starting Next Month

Official:Amending Chapter 19-1400 of The Philadelphia Code, entitled "Realty Transfer Tax," by decreasing the rate of the tax, all under certain terms and conditions.

Sponsor: Councilmember Nutter

Introduced: February 3, 2000

: Committee on Finance

finance housing taxation

No one voted on this bill

This bill was introduced in the 2000–2003 Council term and when that term ran out. The public record shows no committee vote and no floor vote at any stage, so no member of Council ever went on record for or against it.

That is not unusual here. Of the 8,465 bills introduced between 2000 and 2025, 1,624 lapsed without a single recorded vote. Ninety percent of bills that became law carry a roll call. Three percent of lapsed bills do. How this works.

Plain-Language Summary

This bill reduces the rate of the Realty Transfer Tax from 2.5% to 1% for all transactions taking place on or after July 1, 2000.

What This Bill Does

AI-written. Every figure is checked against the bill text.

This bill amends the Realty Transfer Tax in the Philadelphia Code as follows

Reduces the rate of the Realty Transfer Tax from 2.5% to 1% for all transactions taking place on or after July 1, 2000.
Specifies that the reduced tax rate applies for documents made, executed, delivered, or accepted for recording during or after the 2000 fiscal year.
Maintains the current tax calculation method, which involves multiplying the value of the real estate by the applicable tax rate.
Leaves unchanged the payment deadline, which remains the earlier of the time the document is presented for recording or within 30 days of acceptance or becoming an acquired real estate company or family farm corporation.