LVAR - PAR Legislative Priorities

PAR LEGISLATIVE PRIORITIES FOR 2007-2008 SESSION OF PENNSYLVANIA'S GENERAL ASSEMBLY
PRIORITY LEVEL ONE:
*Realty Transfer Tax* – A realty transfer tax is a state and local tax assessed on real property when ownership of the property is exchanged between parties. Realty transfer taxes and fees are a major burden to buyers and sellers, particularly at the time of closing. The realty transfer tax has a negative impact on housing costs and the industry as a whole. Important Facts about Realty Transfer Tax Results of Statewide Transfer Tax Poll -April 2007 *RELRA Amendments* – Proposed amendments to the Real Estate Licensing and Registration Act (RELRA), which governs the practice of real estate and associated licenses, would provide for the release of escrow and the use of entities.
PRIORITY LEVEL TWO:
*Appraiser Trainee Certification* – With a trainee certification, individuals would be able to perform appraisals while earning experience to apply for a certified general or certified residential classification. *Impact Fees* – A financial levy imposed on developers or builders, REALTORS® believe that impact fees hamper and deter development in our nation’s communities and is opposed to any expansion or increase in existing fees. Urban Renewal – The Pennsylvania General Assembly continues to review issues impacting abandoned and blighted property and effective methods of stimulating the economic revitalization of Pennsylvania boroughs, cities, and urban areas. PAR will seek amendments consistent with the recommendations of the Urban Renewal Task Force.
PRIORITY LEVEL THREE:
*Assessment Appeals* – Current law has created a loop hole for corporate authorities to legally appeal assessments without technically conducting spot reassessment. This practice was confirmed by the Commonwealth Court and later upheld by the Pennsylvania Supreme Court in Vees v. Carbon County Board of Assessment Appeals. PAR supports legislation to prohibit local taxing entities from reassessing property without a countywide reassessment. *Disposal of Tenant Abandoned Personal Property* – Proposed legislation would provide that ten days after a tenant has relinquished property, a landlord would have no further responsibility to the tenant may dispose of the property. *Landowner Liability* - PAR supports legislation that would reduce landowner liability when allowing public access to private property. *Monitored Security* - PAR opposes legislation that would require landlords to install monitored security systems in tenement buildings and multiple dwellings.
PRIORITY LEVEL FOUR:
*Right-of-Rescission* – Federal law allows consumers to nullify or rescind a contract within three days of signing it without penalty. Although this law has never been applied to real estate agents, there are potential dangers, particularly for listing agreements. For further information, contact Ryan Conrad, Government Affairs Director at ryan@lvar.org Updated - February 2008.