Finance
What is the Pennsylvania Realty Transfer Tax rate on a standard residential sale?
A1% state only
B2% state only
C1% state plus a local portion (typically totaling 2%)✓ Correct
D0.5% state plus 0.5% local
Explanation
Pennsylvania's Realty Transfer Tax is 1% imposed by the state, plus a local transfer tax imposed by the municipality and school district (typically 1%), for a total of approximately 2% in most areas. Philadelphia has a higher rate.
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