Official:Amending Chapter 19-1400 of The Philadelphia Code, entitled "Realty Transfer Tax," by closing certain loopholes, including by amending the definition of "value" as it relates to acquired real estate companies, the definitions of "real estate company" and "acquired real estate company," all under certain terms and conditions.
Sponsor: Councilmember Taubenberger
Introduced: September 22, 2016
Signed: December 8, 2016
: Committee on Finance
Status: Signed into Law, step 4 of 4
This bill amends the Realty Transfer Tax law to close certain loopholes and ensure accurate valuation of real estate transactions in Philadelphia.
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