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PA Bulletin, Doc. No. 22-1394

NOTICES

DEPARTMENT OF REVENUE

Life Estate and Remainder Factors; Pennsylvania Realty Transfer Tax (Revised)

[52 Pa.B. 5877]
[Saturday, September 10, 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
Single Life Factors Based on Life Table 2000CM
Interest at 1.4 Percent

 Age  Life Estate  Remainder 
00.645840.35416
10.645410.35459
20.640780.35922
30.635960.36404
40.631020.36898
50.625990.37401
60.620870.37913
70.615680.38432
80.610400.38960
90.605030.39497
100.599580.40042
110.594040.40596
120.588430.41157
130.582770.41723
140.577070.42293
150.571350.42865
160.565630.43437
170.559880.44012
180.554110.44589
190.548300.45170
200.542430.45757
210.536500.46350
220.530520.46948
230.524460.47554
240.518310.48169
250.512050.48795
260.505700.49430
270.499240.50076
280.492670.50733
290.486020.51398
300.479300.52070
310.472490.52751
320.465600.53440
330.458630.54137
340.451610.54839
350.444510.55549
360.437340.56266
370.430110.56989
380.422820.57718
390.415470.58453
400.408060.59194
410.400600.59940
420.393100.60690
430.385530.61447
440.377920.62208
450.370270.62973
460.362570.63743
470.354830.64517
480.347050.65295
490.339230.66077
500.331360.66864
510.323450.67655
520.315500.68450
530.307510.69249
540.299500.70050
550.291490.70851
560.283490.71651
570.275520.72448
580.267580.73242
590.259670.74033
600.251780.74822
610.243920.75608
620.236120.76388
630.228360.77164
640.220670.77933
650.213030.78697
660.205390.79461
670.197770.80223
680.190200.80980
690.182690.81731
700.175270.82473
710.167910.83209
720.160650.83935
730.153490.84651
740.146470.85353
750.139610.86039
760.132920.86708
770.126400.87360
780.120050.87995
790.113890.88611
800.107920.89208
810.102140.89786
820.096560.90344
830.091180.90882
840.086010.91399
850.081050.91895
860.076290.92371
870.071750.92825
880.067420.93258
890.063290.93671
900.059380.94062
910.055660.94434
920.052150.94785
930.048830.95117
940.045710.95429
950.042760.95724
960.040010.95999
970.037420.96258
980.035000.96500
990.032730.96727
1000.030630.96937
1010.028640.97136
1020.026810.97319
1030.025000.97500
1040.023340.97666
1050.021700.97830
1060.019670.98033
1070.017380.98262
1080.013760.98624
1090.006900.99310

C. DANIEL HASSELL, 
Secretary

[Pa.B. Doc. No. 22-1394. Filed for public inspection September 9, 2022, 9:00 a.m.]



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