Virginia House Bill 558 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 6 2014 - 25% progression, died in committee
Action: 2014-12-04 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

State recordation taxes and fees. Makes substantive and technical changes to state recordation taxes and fees, including defining the value of property for recordation tax purposes as the value determined by a licensed appraiser within the six months prior to the date of recordation, provided an affidavit is submitted to the clerk of the court stating, among other things, the name, state of licensing, and license number of the appraiser and stating the appraised value of the property as provided in the appraisal report. If no such appraisal was performed, then the value for recordation tax purposes would be the current assessed value of the property as shown on the local tax assessor's records. Under current law, the value for recordation tax purposes is the fair market value of the property at the time of recordation. The bill allows the parties to a deed or other instrument to allocate the liability for recordation taxes as the parties deem appropriate.

State recordation taxes and fees; makes substantive and technical changes.

Del. Randall Minchew [R]

Date	Chamber	Action
2014-12-04	House	Left in Finance
2014-02-05	House	Continued to 2015 in Finance by voice vote
2014-02-05	House	Subcommittee recommends continuing to 2015 by voice vote
2014-01-28	House	Assigned Finance sub: Subcommittee #2
2014-01-06	House	Referred to Committee on Finance
2014-01-06	House	Prefiled and ordered printed; offered 01/08/14 14103316D

Chapter	Article	Section	Citation Type	Statute Text
58	1	800.1	(n/a)	See Bill Text
58	1	801	(n/a)	See Bill Text
58	1	802	(n/a)	See Bill Text
58	1	802.2	(n/a)	See Bill Text
58	1	803	(n/a)	See Bill Text
58	1	807	(n/a)	See Bill Text
58	1	809	(n/a)	See Bill Text
58	1	812	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?151+sum+HB558
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+HB558+hil