Bulletin: VA2013002

Date:
May 08, 2013
To:
All Virginia Issuing Offices
RE:
Legislative Updates - Regional Congestion Relief Fee

Dear Associates:

As part of the recently passed transportation-funding bill, a new fee was added to the Virginia Recordation Tax. Effective July 1, 2013, the Regional Congestion Relief Fee of $0.15 for each $100 of consideration will be imposed on each deed, instrument or writing which conveys real property. This Fee is structured similarly to the current Grantor’s Tax although it is our assumption that the Clerks will expect that it be documented and tracked as a separate fee.

Currently the Fee is only applicable to real property located in Planning District 8 (Northern Virginia). Planning District 8 is comprised of the counties of Arlington, Fairfax, Loudoun and Prince William, the cities of Alexandria, Fairfax, Falls Church, Manassas and Manassas Park, and the towns of Dumfries, Herndon, Leesburg, Purcellville and Vienna.

There has been some confusion as to whether the Fee also applies to Planning District 23 (Hampton Roads). It is our understanding that at this time, the Fee does not apply to any of the Hampton Roads jurisdictions.

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THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None