Grantors Tax Increases July 1, 2013

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As we reported a few months ago, the Virginia Assembly proposed to increase the Grantors Tax.  Bill HB 2313 passed and effective July 1, 2013 a Regional Congestion Relief Fee tax, of an additional $0.15 per $100, will be imposed on sellers in Northern Virginia.  The total Grantors Tax payable is $0.25 per $100 or $2.50 per $1,000 upon the settlement of their real estate transaction.  

Sellers should also seek tax advice on the impact of the Congestion Relief Tax assessed in specific localities.

Contact us for information related to buying or selling your home.

David Rainey and Sallie McBrien Alexandria VA RealtorsDavid Rainey and Sallie McBrien
David and Sallie are an experienced and results oriented team that are dedicated to meeting the needs of their clients.  Whether you are buying or selling your home, Your At Home Team is committed to your real estate success.
703.286.1333
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