More Taxes for Sellers to Pay

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Nesbitt Realty is licensed in Virginia.
Virginia House Bill 2313 which recently was approved by the Virginia General Assembly. Among other provisions, each designed to facilitate statewide transportation funding, the Virginia Grantor's tax charged to all Sellers of real property will increase from $1 per thousand (in the greater of the sales price or assessed value) to $3.50 per thousand. Consider this a pyrrhic victory, as the original proposal called for an increase to $5 per thousand. Unlike a number of years, this Bill will not be struck down as unconstitutional. This change will take effect July 1, 2013, and should be factored into your seller's net sheets for all transactions sent to record on or after that date.
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Will Nesbitt

View posts by Will Nesbitt
Will is the principal broker of Nesbitt Realty and Condo Alexandria. He is licensed in anywhere in the Commonwealth of Virginia, but focuses on those communities found in and around Alexandria, Arlington, Mount Vernon and Springfield/Franconia. Will has been involved in real estate management, sales and investment for more than twenty years. He is a veteran of the U.S. Army. While in the army, he studied Russian at Monterey's Defense Language Institute. He is also a "veteran of the dotcom wars" and built most of the sites associated with NesbittRealty.com Will currently resides in Belle Haven Estates just outside Old Town, overlooking New Alexandria. He is a former president of the Mount Vernon Youth Athletic Association and founded the Alexandria Fun with Friends Group. Will is the author of BattlestorM, a tabletop fantasy game, which was published by Ral Partha Publishing in the late '90's, and Arthur's Realm, a boardgame available at the Gamecrafter.