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PA Bulletin, Doc. No. 16-995

NOTICES

DEPARTMENT OF REVENUE

Life Estate and Remainder Factors; Pennsylvania Realty Transfer Tax

[46 Pa.B. 3035]
[Saturday, June 11, 2016]

 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) 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. See https://www.irs.gov/retirement-plans/actuarial-tables. 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 2013—May 2016) is 2.0%.

 Effective July 1, 2016, 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 (2.0)
Single Life Factors Based on Life Table 2000CM
Interest at 2.0 Percent

Age Life Estate Remainder
 0 0.76687 0.23313
 1 0.76761 0.23239
 2 0.76336 0.23664
 3 0.75888 0.24112
 4 0.75425 0.24575
 5 0.74950 0.25050
 6 0.74462 0.25538
 7 0.73965 0.26035
 8 0.73456 0.26544
 9 0.72936 0.27064
10 0.72404 0.27596
11 0.71861 0.28139
12 0.71307 0.28693
13 0.70745 0.29255
14 0.70177 0.29823
15 0.69606 0.30394
16 0.69032 0.30968
17 0.68454 0.31546
18 0.67871 0.32129
19 0.67281 0.32719
20 0.66683 0.33317
21 0.66075 0.33925
22 0.65459 0.34541
23 0.64832 0.35168
24 0.64191 0.35809
25 0.63536 0.36464
26 0.62866 0.37134
27 0.62181 0.37819
28 0.61480 0.38520
29 0.60767 0.39233
30 0.60041 0.39959
31 0.59302 0.40698
32 0.58551 0.41449
33 0.57787 0.42213
34 0.57012 0.42988
35 0.56226 0.43774
36 0.55428 0.44572
37 0.54619 0.45381
38 0.53799 0.46201
39 0.52968 0.47032
40 0.52127 0.47873
41 0.51276 0.48724
42 0.50415 0.49585
43 0.49543 0.50457
44 0.48662 0.51338
45 0.47772 0.52228
46 0.46871 0.53129
47 0.45963 0.54037
48 0.45045 0.54955
49 0.44118 0.55882
50 0.43181 0.56819
51 0.42234 0.57766
52 0.41278 0.58722
53 0.40313 0.59687
54 0.39342 0.60658
55 0.38365 0.61635
56 0.37387 0.62613
57 0.36407 0.63593
58 0.35427 0.64573
59 0.34447 0.65553
60 0.33466 0.66534
61 0.32485 0.67515
62 0.31506 0.68494
63 0.30530 0.69470
64 0.29557 0.70443
65 0.28589 0.71411
66 0.27615 0.72385
67 0.26641 0.73359
68 0.25669 0.74331
69 0.24701 0.75299
70 0.23740 0.76260
71 0.22785 0.77215
72 0.21838 0.78162
73 0.20902 0.79098
74 0.19981 0.80019
75 0.19077 0.80923
76 0.18193 0.81807
77 0.17329 0.82671
78 0.16485 0.83515
79 0.15663 0.84337
80 0.14865 0.85135
81 0.14090 0.85910
82 0.13340 0.86660
83 0.12615 0.87385
84 0.11916 0.88084
85 0.11243 0.88757
86 0.10598 0.89402
87 0.09979 0.90021
88 0.09388 0.90612
89 0.08824 0.91176
90 0.08287 0.91713
91 0.07777 0.92223
92 0.07293 0.92707
93 0.06837 0.93163
94 0.06405 0.93595
95 0.05998 0.94002
96 0.05616 0.94384
97 0.05258 0.94742
98 0.04922 0.95078
99 0.04606 0.95394
100  0.04313 0.95687
101  0.04036 0.95964
102  0.03780 0.96220
103  0.03527 0.96473
104  0.03295 0.96705
105  0.03066 0.96934
106  0.02782 0.97218
107  0.02461 0.97539
108  0.01951 0.98049
109  0.00980 0.99020

EILEEN H. McNULTY, 
Secretary

[Pa.B. Doc. No. 16-995. Filed for public inspection June 10, 2016, 9:00 a.m.]



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