THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Title 19 of The Philadelphia Code is hereby amended to read as follows:
TITLE 19. FINANCE, TAXES AND COLLECTIONS
CHAPTER 19-1400. REALTY TRANSFER TAX
§ 19-1405. Excluded Transactions.
The tax imposed by Section 19-1403 shall not be imposed upon:
(7) A transfer for no or nominal actual consideration of property passing by testate or intestate succession from a personal representative of a decedent to the decedent's devisee or heir.
For purposes of this subsection, where the property passing by testate or intestate succession was the primary residence of the decedent, a lien or other encumbrances on the property existing before the transfer and not removed thereby shall not be treated as actual consideration.
SECTION 2. This Ordinance shall become effective immediately.
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Explanation:
Italics
indicate new matter added.
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