DID YOU HEAR? Changes to Virginia Recordation Taxes

A bill has passed in Virginia that will raise the grantor tax in many cities and counties in Virginia effective July 1, 2013.  Details are as follows:

Grantor tax increase from .10%  to .25% in the counties of Arlington, Fairfax, Loudoun and Prince William; the cities of Alexandria, Fairfax, Falls Church, Manassas and Manassas Park; the towns of Dumfries, Herndon, Leesburg, Purcellville and Vienna. Also, the counties of Gloucester, Isle of Wight, James City, Southampton, Surry and York; the cities of Chesapeake, Franklin, Hampton, Newport News, Norfolk, Poquoson, Portsmouth, Suffolk, Virginia Beach and Williamsburg.

The bill has passed and has been signed into law by the Governor.  Many counties are unaware of the upcoming changes but are expecting a briefing at the end of the month.

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