Title
An Ordinance amending the Pittsburgh Code, Title Two, Fiscal; Article VII, Business Related Taxes; Chapter 256, Home Rule Realty Transfer Tax, Section 256.02 LEVY AND RATE, paragraph (a), by increasing the rate of tax from one percent (1%) to two percent (2%) one and one half percent (1.5%) commencing February 1, 2018 and to two (2%) percent commencing January 1, 2020.
(Post Agenda Held, July 18, 2017; Public Hearing Held, July 18, 2017)
Body
Whereas, the health, safety and welfare of the residents of the City of Pittsburgh is the primary responsibility of the government of the City of Pittsburgh; and,
Whereas, the federal government is considering either reducing or elimination federal assistance to cities, including the potential elimination of the Community Development Block Grant (CDBG) program; and,
Whereas, the City of Pittsburgh needs additional dollars to fund needed programs and activities.
Be it therefore resolved that the Council of the City of Pittsburgh does hereby enact as follows:
Section 1. The Pittsburgh Code, Title Two, Fiscal; Article VII, Business Related Taxes; Chapter 256, Home Rule Realty Transfer Tax; Section 256.02 LEVY AND RATE, paragraph (a), is hereby amended to read as follows:
Chapter 256, HOME RULE REALTY TRANSFER TAX
Section 256.02 LEVY AND RATE.
(a) Rate and Time of Payment. Commencing February 1, 2018 a tax in the amount of [one percent (1%)] two percent (2%) one and one half percent (1.5%) of the value is hereby imposed upon each transfer of any interest in real property situated within the city regardless of where the document is made, executed or delivered, or where the actual settlement on each transfer takes place. The tax shall be payable at the time of the delivery of the document. Commencing January 1, 2020, the rate of the aforementioned tax shall increase to two percent (2%) of value.
Section 2.
(a) This Ordinance shall become effective July 1, 2017 upon signature of the Mayor.
(b) Any executed ag...
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