GPAR’s Government Affairs Committee will next meet June 26, 2025.
ALERT! Realty Transfer Tax Increase
Mayor Parker has released a plan to create and preserve 30,000 Philadelphia housing units. The H.O.M.E. Initiative aims to increase housing inventory and affordability. However, the proposal comes with a steep $2B price tag, including an $800 million-dollar bond issuance.
To offset costs of the proposal, City Council is expected to vote on a bill that would raise Philadelphia’s Realty Transfer Tax (RTT). Bill No. 250211, calls for increasing the RTT from 3.278% to 3.578%. Increases to this regressive tax directly impedes access to the city’s most affordable housing, restricts opportunity to build generational wealth, and disincentivizes commercial investment in Philadelphia. GPAR urges the Administration and Councilmembers to VOTE NO on Bill No. 250211 and to pursue alternative revenue sources.
GPAR is actively engaging with councilmembers and the administration to effectively advocate on behalf of our membership and consumers. Please visit our website and support our efforts by contacting your councilmember.
To learn more about GPAR’s position on the proposed Realty Transfer Tax increase, please review our position paper below.
City Hall
The GPAR Government Affairs Committee voted unanimously to oppose the three bills introduced as part of a Safe Healthy Homes Act meant to enhance existing laws and regulations governing rental housing and tenant rights. GPAR is in communication with the bills’ sponsor, and supports amendments proposed by our housing counterparts in the city.
State
The Pennsylvania Association of REALTORS® (PAR) monitors legislation related to Taxes, Professionalism and Practice, Housing, and Local Issues. PAR’s position on the most recent legislation introduced can be found here.
Federal
NAR Submits Comments to DOJ Anticompetitive Regulations Task Force, urging the review and recission of overly burdensome federal and state regulations that hinder competition by impeding access to homeownership and frustrating housing growth and affordability.
House Passes Bill to Protect Veteran Access to Real Estate Representation, aiming to make permanent the VA’s temporary policy allowing veterans to directly compensate their real estate agents. The bill also creates partial claims program to assist veterans who have fallen behind on their mortgage payments.
House Passes Tax Reform Package with Key Wins for Real Estate. The bill retains the current tax rates while including a range of NAR-supported provisions, including an increase in the qualified business income deduction and quadrupling the SALT deduction.
This report is submitted by Lexy McDowell GPAR’s Director of Government Affairs and Public Policy.