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Pa. House committee votes to eliminate real estate transfer tax for first-time homeowners • Pennsylvania Capital-Star

Posted on AllSides May 21st, 2024
From The Right

In an effort to help first-time homebuyers in Pennsylvania, the House Housing and Community Development committee advanced a bill that would eliminate the state real estate transfer tax for people who have never owned homes before. As it stands, the state collects a 1% tax from both homebuyers and sellers in most real estate deals. “Rising home prices and mortgage interest rates have made housing affordability a substantial barrier for first-time home buyers,” said Rep. Thomas Kutz (R-Cumberland), the bill’s lead sponsor. “In order to make Pennsylvania more attractive and...

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https://penncapital-star.com/briefs/pa-house-committee-votes-to-eliminate-real-estate-transfer-tax-for-first-time-homeowners

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