NOTICES
DEPARTMENT
OF REVENUE
Life Estate and Remainder Factors--Pennsylvania Realty Transfer Tax
[37 Pa.B. 6715]
[Saturday, December 15, 2007]In accordance with 61 Pa. Code § 91.165(d) (relating to reservations or conveyances of life estates), the Department of Revenue (Department) 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) 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 (December 2004--November 2007) is 6.6%.
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 Estate
IRS Publication 1457
Table S (6.6)
Single Life Factors Based on Life Table 90CM
Interest at 6.6%
Age Life Estate Remainder 0 .97300 .02700 1 .98071 .01929 2 .98017 .01983 3 .97935 .02065 4 .97837 .02163 5 .97725 .02275 6 .97602 .02398 7 .97468 .02532 8 .97325 .02675 9 .97168 .02832 10 .96999 .03001 11 .96817 .03183 12 .96623 .03377 13 .96421 .03579 14 .96217 .03783 15 .96014 .03986 16 .95813 .04187 17 .95613 .04387 18 .95412 .04588 19 .95204 .04796 20 .94987 .05013 21 .94758 .05242 22 .94518 .05482 23 .94266 .05734 24 .93999 .06001 25 .93715 .06285 26 .93414 .06586 27 .93093 .06907 28 .92754 .07246 29 .92397 .07603 30 .92022 .07978 31 .91628 .08372 32 .91215 .08785 33 .90780 .09220 34 .90324 .09676 35 .89843 .10157 36 .89338 .10662 37 .88807 .11193 38 .88249 .11751 39 .87662 .12338 40 .87045 .12955 41 .86394 .13606 42 .85709 .14291 43 .84990 .15010 44 .84236 .15764 45 .83450 .16550 46 .82630 .17370 47 .81780 .18220 48 .80898 .19102 49 .79982 .20018 50 .79031 .20969 51 .78045 .21955 52 .77027 .22973 53 .75978 .24022 54 .74899 .25101 55 .73788 .26212 56 .72645 .27355 57 .71471 .28529 58 .70269 .29731 59 .69044 .30956 60 .67798 .32202 61 .66527 .33473 62 .65228 .34772 63 .63899 .36101 64 .62544 .37456 65 .61162 .38838 66 .59751 .40249 67 .58306 .41694 68 .56830 .43170 69 .55328 .44672 70 .53806 .46194 71 .52273 .47727 72 .50732 .49268 73 .49187 .50813 74 .47633 .52367 75 .46064 .53936 76 .44476 .55524 77 .42868 .57132 78 .41245 .58755 79 .39615 .60385 80 .37993 .62007 81 .36392 .63608 82 .34818 .65182 83 .33272 .66728 84 .31744 .68256 85 .30225 .69775 86 .28728 .71272 87 .27274 .72726 88 .25863 .74137 89 .24497 .75503 90 .23177 .76823 91 .21925 .78075 92 .20765 .79235 93 .19693 .80307 94 .18694 .81306 95 .17746 .82254 96 .16853 .83147 97 .16027 .83973 98 .15250 .84750 99 .14492 .85508 100 .13754 .86246 101 .13026 .86974 102 .12311 .87689 103 .11601 .88399 104 .10843 .89157 105 .10102 .89898 106 .09148 .90852 107 .07990 .92010 108 .06186 .93814 109 .03096 .96904 THOMAS W. WOLF,
Secretary
[Pa.B. Doc. No. 07-2317. Filed for public inspection December 14, 2007, 9:00 a.m.]
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