23VAC10-320-10. Preface.
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.
Historical Notes
Derived from VR630-14-800, eff. January 1, 1985.
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