Wednesday, July 25, 2007
Increased Grantors Tax Fees to Fund the Transportation Bill
I wanted to let all of you know about the changes to the tax fees for grantors. On July 12, 2007 the Northern Virginia Transportation Authority voted to increase the residential Grantor's Tax. Implementation is expected to begin January 2008. The Grantor's Tax rate will increase by $0.40 per $100.00, taking the total tax rate to $5.00 per $1000.00. The increased Grantor's Tax is one of seven fees that will fund transportation improvements in Northern Virginia. To look at the whole list of increases, look at NVAR’s site here.