Claudia S. Nelson, Keller Williams Realty, Woodbridge VA
The Virginia Transportation Bill Increases Taxes on Real Estate Transfers in Northern Virginia.
The Virginia General Assembly increased the taxes or fees for Northern Virginia Real Estate Transfers by 150%. Northern Virginia is defined for this tax or fee increase as the following counties and cities: Arlington, Fairfax, Loudoun and Prince William and the cities of Alexandria, Fairfax, Falls Church, Manassas and Manassas Park.
The increase will go into effect July 1st. 2013. This will affect Real Estate transfers in Northern Virginia that are settling and are being recorded on or after July 1st. 2013. This will add an additional 15 cents per $100.- to a combined 25 cents per $100.-. The current grantors tax / sellers tax is 10 cents per $100.-
The money raised from the higher sellers tax in Northern Virginia will go towards Northern Virginia transportation needs!
As for any tax related matters consult with your CPA or Tax Attorney.
If you are currently in the market to sell your Northern Virginia Home and you would like to know what your Northern Virginia Home is worth in Today's market contact
Claudia S. Nelson
571-285-4319
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