Straight from the courthouse to your pocket book, as the seller, the new imposed Grantor’s tax has taken effect as of this morning.
What is known commonly as the Grantor’s tax, or the Regional Congestion Relief Fee, was actually lobbied down by Realtors in Richmond! This fee could have been assessed much higher. Here are the details directly from the Virginia Tax Department:
“Regional Congestion Relief Fee
Which localities are affected by the Regional Congestion Relief Fee?
The Regional Congestion Relief Fee will be imposed on conveyances of real estate in the Northern Virginia region, beginning July 1, 2013. The fee is imposed on the consideration or value in addition to any other required recordation taxes and fees at the rate of $0.15 per $100 or fraction thereof. The fee will be paid by the grantor at the time the deed is recorded in the local Circuit Court.
Localities in the Northern Virginia region are the Cities of Alexandria, Fairfax, Falls Church, Manassas, and Manassas Park, and the Counties of Arlington, Fairfax, Loudoun, and Prince William.
Are there any exemptions from the Regional Congestion Relief Fee?
The Regional Congestion Relief Fee, imposed under Code of
Virginia § 58.1-802.2, qualifies for the same exemptions allowed for the Grantor’s Tax imposed under Code of Virginia § 58.1-802. For details on the exemption available, see Code of Virginia § 58.1-811.”