Virginia Administrative Code (Last Updated: January 10, 2017) |
Title 23. Taxation |
Agency 10. Department of Taxation |
Chapter 320. Recordation Tax Regulations |
Section 10. Preface
Latest version.
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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.
Historical Notes
Derived from VR630-14-800, eff. January 1, 1985.