Recordation tax; changes basis on which are calculated. (HB76)
Introduced By
Del. David Toscano (D-Charlottesville)
Progress
√ |
Introduced |
X |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Recordation taxes; basis. Changes the basis on which recordation taxes are calculated on the transfer of real estate to the stated consideration for the real estate. Under current law the basis is the consideration for the real estate or the value of the real estate, whichever is greater. Amends § 58.1-801 (“Deeds generally; charter amendments.”), § 58.1-802 (“Additional tax paid by grantor; collection.”), § 58.1-812 (“Payment prerequisite to recordation; exceptions; assessment and collection of tax; penalty for misrepresentation.”), of the Code of Virginia. View Full Text »
Outcome
Bill Has Failed
View Bill's History
