2006 Code of Virginia § 58.1-802 - Additional tax paid by grantor; collection

58.1-802. Additional tax paid by grantor; collection.

A. In addition to any other tax imposed under the provisions of this chapter,a tax is hereby imposed on each deed, instrument, or writing by which lands,tenements or other realty sold is granted, assigned, transferred, orotherwise conveyed to, or vested in the purchaser, or any other person, bysuch purchaser's direction. The rate of the tax, when the consideration orvalue of the interest exceeds $100, shall be 50 cents for each $500 orfraction thereof, exclusive of the value of any lien or encumbrance remainingthereon at the time of the sale, whether such lien is assumed or the realtyis sold subject to such lien or encumbrance. No increase in the city orcounty recordation tax authorized by 58.1-814 shall be deemed authorized bythis section.

The tax imposed by this section shall be paid by the grantor, or any personwho signs on behalf of the grantor, of any deed, instrument or writingsubject to the tax imposed by this section.

No such deed, instrument or other writing shall be admitted to record withoutcertification of the clerk of the court wherein first recorded having beenaffixed thereto that the tax imposed by this section has been paid. The clerkshall include within the certificate the amount of such tax collected thereon.

B. Taxes imposed by this section shall be collected as provided in 58.1-812and the clerk shall return taxes collected hereunder one-half into the statetreasury and one-half into the treasury of the locality.

The local portion of the tax imposed by this section on property which islocated in more than one jurisdiction shall be collected by the clerk inproportion to the value of the property located in each such locality whenrecorded therein.

Every clerk of court collecting taxes under this section for the county orcity which he serves shall be entitled to compensation for such service atfive percent of the amount so collected and paid.

(Code 1950, 58-54.1; 1970, c. 772; 1972, c. 186; 1976, c. 558; 1982, c.630; 1984, cc. 397, 675; 1988, c. 200.)

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