Virginia Administrative Code
Title 23 - TAXATION
Agency 10 - DEPARTMENT OF TAXATION
Chapter 320 - RECORDATION TAX REGULATIONS
Section 23VAC10-320-10 - Preface
Universal Citation: 3 VA Admin Code 10-320-10
Current through Register Vol. 41, No. 3, September 23, 2024
The recordation tax is not a tax on property but on a civil privilege, i.e., the privilege of utilizing the registration laws of Virginia. The tax is generally measured by the consideration or actual (fair market) value of the property transferred, whichever is greater, and the amount of bonds or other obligations secured by deeds of trust or mortgages.
Statutory Authority
§§ 58.1-203 and 58.1-800 of the Code of Virginia.
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