Grantor's Tax to Increase January 1, 2008
On July 12, The Northern Virginia Transportation Authority voted to increase the residential Grantor's Tax. Effective January 1, 2008, the Grantor's Tax rate will increase by $.40 per $100, taking the total tax rate to $5 per $1000. The increased Grantor's Tax is one of seven fees that will fund transportation improvements in Northern Virginia.
Other taxes and fees in the Northern Virginia plan are:
40 cents per $100 increase in the real estate grantor’s tax 2 percent increase in the rental car tax 2 percent increase in the hotel/motel occupancy tax $10 increase in the vehicle safety inspection fee 1 percent initial vehicle registration fee (for new car purchases or those moving into the region) 5 percent sales tax on auto repairs $10 regional auto registration fee In addition, the authority may choose to implement the following optional revenues:
Annual commercial real estate fee of up to 25 cents per $100 $10 local car registration fee Commercial/residential impact fee (amount to be determined)
Team up with Ritu Desai & Samson Realty for all your real estate needs in Northern Virginia. Web: www.eNOVAHomes.com
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