Effective July 1, the grantors tax in Northern Virginia and Hampton Roads will increase.
Effective July 1, the grantor's tax in Northern Virginia and Hampton Roads will increase.
The legislature passed a 5 cent per $100 increase in Northern Virginia and a 6 cent per $100 increase in Hampton Roads to be used for their regional transportation projects.
The Governor’s proposal had included a 10-cent increase in both regions and NVAR successfully lobbied to have theirs reduced to 5 cents. The Realtor® associations in the Hampton Roads region agreed to a 6-cent increase.
In Northern Virginia, sellers will see two line items on the settlement sheet. A REGIONAL TRANSPORTATION IMPROVEMENT FEE (WMATA) fee, which will remain at 15 cents per $100 – the same as the current regional grantors tax. The new line item will be the REGIONAL CONGESTION RELIEF FEE of 5 cents per $100. All monies raised will remain in the region for transportation.
Legislation was also passed allowing sellers to negotiate to have the buyer pay a portion, or all, of the grantor's taxes.
This tax will apply to the City of Alexandria, Arlington, all of Fairfax, Loudoun, and Prince William Counties and any towns or cities located within those counties.