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PA Bulletin, Doc. No. 22-870

NOTICES

DEPARTMENT OF REVENUE

Life Estate and Remainder Factors; Pennsylvania Realty Transfer Tax

[52 Pa.B. 3382]
[Saturday, June 11, 2022]

 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 2019—May 2022) is 1.4%.

 Effective July 1, 2022, 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 (2.6)
Single Life Factors Based on Life Table 2000CM
Interest at 1.4 Percent

 Age  Life Estate Remainder
0 0.64584 0.35416
1 0.64541 0.35459
2 0.64078 0.35922
3 0.63596 0.36404
4 0.63102 0.36898
5 0.62599 0.37401
6 0.62087 0.37913
7 0.61568 0.38432
8 0.61040 0.38960
9 0.60503 0.39497
10 0.59958 0.40042
11 0.59404 0.40596
12 0.58843 0.41157
13 0.58277 0.41723
14 0.57707 0.42293
15 0.57135 0.42865
16 0.56563 0.43437
17 0.55988 0.44012
18 0.55411 0.44589
19 0.54830 0.45170
20 0.54243 0.45757
21 0.53650 0.46350
22 0.53052 0.46948
23 0.52446 0.47554
24 0.51831 0.48169
25 0.51205 0.48795
26 0.50570 0.49430
27 0.49924 0.50076
28 0.49267 0.50733
29 0.48602 0.51398
30 0.47930 0.52070
31 0.47249 0.52751
32 0.46560 0.53440
33 0.45863 0.54137
34 0.45161 0.54839
35 0.44451 0.55549
36 0.43734 0.56266
37 0.43011 0.56989
38 0.42282 0.57718
39 0.41547 0.58453
40 0.40806 0.59194
41 0.40060 0.59940
42 0.39310 0.60690
43 0.38553 0.61447
44 0.37792 0.62208
45 0.37027 0.62973
46 0.36257 0.63743
47 0.35483 0.64517
48 0.34705 0.65295
49 0.33923 0.66077
50 0.33136 0.66864
51 0.32345 0.67655
52 0.31550 0.68450
53 0.30751 0.69249
54 0.29950 0.70050
55 0.29149 0.70851
56 0.28349 0.71651
57 0.27552 0.72448
58 0.26758 0.73242
59 0.25967 0.74033
60 0.25178 0.74822
61 0.24392 0.75608
62 0.23612 0.76388
63 0.22836 0.77164
64 0.22067 0.77933
65 0.21303 0.78697
66 0.20539 0.79461
67 0.19777 0.80223
68 0.19020 0.80980
69 0.18269 0.81731
70 0.17527 0.82473
71 0.16791 0.83209
72 0.16065 0.83935
73 0.15349 0.84651
74 0.14647 0.85353
75 0.13961 0.86039
76 0.13292 0.86708
77 0.12640 0.87360
78 0.12005 0.87995
79 0.11389 0.88611
80 0.10792 0.89208
81 0.10214 0.89786
82 0.09656 0.90344
83 0.09118 0.90882
84 0.08601 0.91399
85 0.08105 0.91895
86 0.07629 0.92371
87 0.07175 0.92825
88 0.06742 0.93258
89 0.06329 0.93671
90 0.05938 0.94062
91 0.05566 0.94434
92 0.05215 0.94785
93 0.04883 0.95117
94 0.04571 0.95429
95 0.04276 0.95724
96 0.04001 0.95999
97 0.03742 0.96258
98 0.03500 0.96500
99 0.03273 0.96727
100 0.03063 0.96937
101 0.02864 0.97136
102 0.02681 0.97319
103 0.02500 0.97500
104 0.02334 0.97666
105 0.02170 0.97830
106 0.01967 0.98033
107 0.01738 0.98262
108 0.01376 0.98624
109 0.00690 0.99310

C. DANIEL HASSELL, 
Secretary

[Pa.B. Doc. No. 22-870. Filed for public inspection June 10, 2022, 9:00 a.m.]



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