Sunday, January 13, 2008

Calling Nothern Virginia Homeowners, the Grantors Tax is Now $.50 /$100, Up 500%

You heard right! As of the first of the year the grantors tax you pay for the purchase of your home has skyrocketed. Originally $.10 cents per $100 of the sales price, the new tax pushes 500% increases up to $.50 cents per $100 of the sales price.

Why the increase?

The NoVa transportation authority voted to increase the taxes to pay for transportation improvements in the most congested areas of Virginia. The counties the tax affects are Arlington, Fairfax, Loudoun, and Prince William counties as well as the cities of Alexandria, Falls Church, Fairfax, Manassas and Manassas Park.

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