Virginia charges grantor tax when a deed is recorded. The general rate is 50 cents for each $500 of the greater of the sale price or value, about 0.1%. State and local recordation taxes are separate. The contract can shift who pays the grantor tax, and exemptions or transfers with little or no consideration can change the amount. Ask the settlement agent to confirm the figures for your sale.
When you sell to us, we pay the closing costs, including Virginia state and local recordation taxes, grantor tax and any applicable regional WMATA capital fee, regional congestion relief fee or regional transportation improvement fee.
This does not pay your mortgage, liens, back taxes, or your share of current property taxes.
Virginia grantor tax law (§58.1-802) ↗ · Virginia state recordation tax law (§58.1-801) ↗ · Virginia local recordation tax law (§58.1-814) ↗