$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)
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
23 Va. Admin. Code § 10-320-120
Statutory Authority
§§ 58.1-203, 58.1-814 and 58.1-3800 of the Code of Virginia.