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 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. 22-1394. Filed for public inspection September 9, 2022, 9:00 a.m.]
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