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.