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City Council Moves to Close Loophole on Realty Transfer Taxes from Deeds, Foreclosures

Official:Amending Title 19 of The Philadelphia Code ("Finance, Taxes and Collections"), by amending Chapter 19-1400 ("Realty Transfer Tax") to clarify that the definition of value in Section 19-1402(14)(b) includes a deed in lieu of foreclosure as well as the foreclosure of a mortgage by a judicial officer.

Sponsor: Councilmember Blackwell

Introduced: May 18, 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 clarifies that a deed in lieu of foreclosure and a mortgage foreclosure by a judicial officer are both subject to the city's Realty Transfer Tax.

What This Bill Does

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

Clarifies that a deed in lieu of foreclosure is subject to the city's Realty Transfer Tax.
Clarifies that the foreclosure of a mortgage by a judicial officer is subject to the city's Realty Transfer Tax.
No new taxes or fees are imposed, but rather clarifies existing tax liability.
The definition of "value" in the Realty Transfer Tax is expanded to include certain types of transfers, but does not change the method of determining value.