Philadelphia Real Estate Forum

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Matt Hummer
  • Investor
  • Warminster, PA
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Taxes related to carrying property in Philadelphia

Matt Hummer
  • Investor
  • Warminster, PA
Posted Jul 31 2016, 14:52

Hello all, thanks for the help in advance.  I'm trying to compute future property tax for Philadelphia properties.  I've researched the internet to include the Philadelphia tax site.  My research turns up two things that I'm trying to confirm: A) Philadelphia city and Philadelphia county are the same thing for tax purposes and B) There are no Philadelphia county property taxes.  The taxes that I'm currently accounting for are as follows:

1. Real Estate Transfer Tax - 3.1% plus 1% for the State of PA (Jan '17)

2. City Tax - 0.006317%

3. Schools Tax - 0.007681%

-Are there any other taxes related to the purchase or sale of a property in the City of Philadelphia?

-If I rent a property to a tenant, do I pay Wage Tax AND Use and Occupancy Tax AND Earnings Tax?

Thanks,

Matt

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