DEPARTMENT
OF REVENUELife Estate and Remainder Factors; Pennsylvania Realty Transfer Tax [43 Pa.B. 3193]
[Saturday, June 8, 2013]In accordance with 61 Pa. Code § 91.165(d) (relating to reservations or conveyances of life estates), the Department of Revenue is required to periodically publish notice of the Life Estate and Remainder Factors and their effective date to be used for the calculation of the taxable value of a Life Estate and Remainder Interest in real estate.
Section 91.165(d)(1) of 61 Pa. Code provides that the factors will be based upon tables published by the Internal Revenue Service (IRS) for calculating the present worth of a Life Estate and Remainder Interest. The IRS table of factors to be used is the table based upon an average interest rate for the 36 months prior to publication of the factors in the Pennsylvania Bulletin. The average interest rate rounded to the nearest two tenths of a percent for the 36 months prior to publication of this notice (June 2010—May 2013) is 1.8%.
Effective immediately, the Department is updating the Life Estate and Remainder Factors to account for changes in mortality and interest rates as follows:
Pennsylvania Realty Transfer Tax
Factors for Conveyances or Reservations of
Life Estate and Remainder Interests in Real EstateIRS Publication 1457
Table S (1.8)
Single Life Factors Based on Life Table 2000CM
Interest at 1.8 PercentAge Life Estate Remainder 0 0.73255 0.26745 1 0.73289 0.26711 2 0.72845 0.27155 3 0.72381 0.27619 4 0.71902 0.28098 5 0.71412 0.28588 6 0.70910 0.29090 7 0.70399 0.29601 8 0.69878 0.30122 9 0.69346 0.30654 10 0.68803 0.31197 11 0.68250 0.31750 12 0.67687 0.32313 13 0.67116 0.32884 14 0.66540 0.33460 15 0.65962 0.34038 16 0.65381 0.34619 17 0.64797 0.35203 18 0.64209 0.35791 19 0.63615 0.36385 20 0.63013 0.36987 21 0.62403 0.37597 22 0.61784 0.38216 23 0.61156 0.38844 24 0.60516 0.39484 25 0.59863 0.40137 26 0.59196 0.40804 27 0.58516 0.41484 28 0.57822 0.42178 29 0.57116 0.42884 30 0.56399 0.43601 31 0.55671 0.44329 32 0.54932 0.45068 33 0.54182 0.45818 34 0.53422 0.46578 35 0.52653 0.47347 36 0.51873 0.48127 37 0.51084 0.48916 38 0.50285 0.49715 39 0.49477 0.50523 40 0.48660 0.51340 41 0.47835 0.52165 42 0.47002 0.52998 43 0.46160 0.53840 44 0.45310 0.54690 45 0.44453 0.55547 46 0.43587 0.56413 47 0.42714 0.57286 48 0.41834 0.58166 49 0.40947 0.59053 50 0.40051 0.59949 51 0.39148 0.60852 52 0.38237 0.61763 53 0.37320 0.62680 54 0.36397 0.63603 55 0.35470 0.64530 56 0.34543 0.65457 57 0.33616 0.66384 58 0.32691 0.67309 59 0.31767 0.68233 60 0.30842 0.69158 61 0.29919 0.70081 62 0.28999 0.71001 63 0.28083 0.71917 64 0.27172 0.72828 65 0.26265 0.73735 66 0.25355 0.74645 67 0.24446 0.75554 68 0.23539 0.76461 69 0.22638 0.77362 70 0.21744 0.78256 71 0.20857 0.79143 72 0.19979 0.80021 73 0.19112 0.80888 74 0.18259 0.81741 75 0.17423 0.82577 76 0.16607 0.83393 77 0.15809 0.84191 78 0.15032 0.84968 79 0.14275 0.85725 80 0.13540 0.86460 81 0.12828 0.87172 82 0.12139 0.87861 83 0.11474 0.88526 84 0.10834 0.89166 85 0.10218 0.89782 86 0.09627 0.90373 87 0.09061 0.90939 88 0.08521 0.91479 89 0.08006 0.91994 90 0.07516 0.92484 91 0.07051 0.92949 92 0.06610 0.93390 93 0.06194 0.93806 94 0.05801 0.94199 95 0.05431 0.94569 96 0.05084 0.94916 97 0.04758 0.95242 98 0.04453 0.95547 99 0.04166 0.95834 100 0.03900 0.96100 101 0.03649 0.96351 102 0.03417 0.96583 103 0.03188 0.96812 104 0.02977 0.97023 105 0.02769 0.97231 106 0.02512 0.97488 107 0.02221 0.97779 108 0.01760 0.98240 109 0.00884 0.99116 DANIEL MEUSER,
Secretary[Pa.B. Doc. No. 13-1052. Filed for public inspection June 7, 2013, 9:00 a.m.]
