BCATO Realty Tax Transfer Resolution
The Bucks County Association of Township Officials (BCATO) is requesting support for the its Realty Tax Transfer resolution passed at the 2015 Pennsylvania State Association of Township Officials (PSATS) conference.
This resolution supports legislation (SB556) exempting from the payment of realty transfer tax transfers to the United States, the Commonwealth, or any of their instrumentalities, agencies or political subdivisions for conservation easements having as their purpose the preservation of open space or agriculture.
Explanation of Need for Resolution:
There is a glitch in the Realty Transfer Law that does not specifically state transfers of conservation easements directly to local governments or even to Counties are exempt. The Pa. Department of Revenue recently assessed a Township over $6,000.00 in transfer taxes based on this omission.