Dan's Bucks County Real Estate Blog

One of the proposals pushed by Gov. Rendell to help fund mass transit and maintenance and upgrades of roads in bridges in Pennsylvania is to increase the real estate transfer tax. The tax is paid at settlement and is generally 2 percent of the sale price, split evenly between buyer and seller. In Philadelphia and some other towns, it is 4 percent, split evenly between buyer and seller. Any increase in that tax adds a lot to settlement costs, and it can hurt a buyer's ability to buy a home. That's why the Pennsylvania Association of Realtors has established a Web sit to fight any increase. The site at www.votenoonrtt.com provides realtors and consumers with information about the tax and shows how it hurts young home-buyers who are strapped for cash. Check it out.