Transactions $399,999 and under are taxed at a rate of 1.1% of the purchase price.
Transactions $400,000 and above are taxed at a rate of 1.45% of the purchase price.
Transactions $647,000 and below, a first-time D.C. homebuyer may be eligible for reduced recordation tax of 0.725%, learn more.
Example 1: $300,000 x 1.1% = $3,300
Buyer pays $3,300 recordation tax. Seller pays $3,300 transfer tax. The local government receives a total of $6,600 in transfer & recordation taxes.
Example 2: $500,000 x 1.45% = $7,250
Buyer pays $7,250 recordation tax. Seller pays $7,250 transfer tax. The local government receives a total of $14,500 in transfer & recordation taxes.
Principal residences are paid semi-annually, and non-principal residences and investment properties are paid annually.
For principal residences:
Taxes due on 9/30 for the period of 7/1 – 12/31
Taxes due on 12/31 for the period of 1/1 – 6/30
For non-principal residences and investment properties:
Taxes due on 9/30 for the period 7/1 – 6/30
UPDATED 5 JUNE 2020 | INFORMATION IS RELIABLE BUT NOT GUARANTEED
Virginia
Recordation tax
Deed Tax = $3.33 per $1000 of purchase price or assessed value (tax will be on the higher value)
Trust Tax = $3.33 per $1000 of loan amount
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Recording fees (Deeds, Deeds of Trust, etc.)
$33 to record a deed and $66 to record a mortgage, regardless of the number of pages in the documents. This generally results in a total recording charge of approximately $99.