Virginia Administrative Code
Title 23 - TAXATION
Agency 10 - DEPARTMENT OF TAXATION
Chapter 320 - RECORDATION TAX REGULATIONS
Section 23VAC10-320-120 - Taxation of instruments relating to property located in more than one jurisdiction
Universal Citation: 3 VA Admin Code 10-320-120
Current through Register Vol. 41, No. 3, September 23, 2024
A. When a deed conveys real estate located in two separate jurisdictions, the formula for prorating the local tax is:
| $1,000,000 (Property in jurisdiction #1) | x $1,575.00 (State recordation tax) ÷ 1/3 |
| $1,050,000 (Total property conveyed) |
= $500 (Local tax for jurisdiction #1)
| $50,000 (Property in jurisdiction #2) | x $1,575.00 (State recordation tax) ÷ 1/3 |
| $1,050,000 (Total property conveyed) |
= $25 (Local tax for jurisdiction #2)
B. The formula for the local tax on a deed of trust conveying property located in two jurisdictions is:
| Value of property in jurisdiction #1 | x Total debt x Rate of tax = State recordation tax ÷ 1/3 |
| Total value of all property |
= Local tax for jurisdiction #1
| Value of property in jurisdiction #2 | x Total debt x Rate of tax = State recordation tax ÷ 1/3 |
| Total value of all property |
= Local tax for jurisdiction #2
Statutory Authority
§§ 58.1-203, 58.1-814 and 58.1-3800 of the Code of Virginia.
Disclaimer: These regulations may not be the most recent version. Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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