Is Transfer Tax separate from Bidding price?

[Karen Polis]

Pretty sure it is - but want to be positive. 
Ex) If I bring $10,000 to an auction and my (winning) bid is $10,000, does that mean I need to come up with the additional transfer tax monies or does that get factored in with the bid?

[Steve Babiak]

Originally posted by @Karen Polis:

Thank you! But Christian - you're saying that it's 2% of the winning bid price? My understanding is that it is 2% of the FMV, which could make it thousands of dollars, depending on the property.

Karen, as I stated to you in a private communication, in PA the transfer tax due will be based on the larger of two amounts: the winning bid amount, or the "FMV" that is computed by multiplying the tax assessed value by the appropriate leveling factor that was set by the PA Dept of Revenue.