CHAPTER 778

An Act to amend and reenact § 58-54 of the Code of Virginia, relating
to taxation of deeds, etc.
[H 286]

Approved April 5, 1968

Be it enacted by the General Assembly of Virginia:

Pilon That § 58-54 of the Code of Virginia be amended and reenacted as
)

S 58-54. Deeds generally -—(a) On every deed, except a deed ex-
empt from taxation by law, which is admitted to record, the tax shall
be fifteen cents on every hundred dollars or fraction thereof of the con-
sideration of the deed or the actual value of the property conveyed, which-
ever is greater.

Upon deeds conveying property lying partly within this State and
partly without this State, the tax herein imposed shall apply only to
the value of so much of the property conveyed as is situated within the
State of Virginia.

When the charter of a corporation is amended, and the only effect
of such amendment is to change the corporate name of such corpora-
tion, the tax upon the recordation of a deed conveying to, or vesting in,
such corporation under its changed name, the title to any or all of the
real or personal property of such corporation held in its name as it existed
immediately prior to such amendment, shall be fifty cents.

(b) In addition to any other tax imposed under the provisions of this
article, there is hereby imposed, on and after the effective date of this
act, on each deed, instrument, or writing by which any lands, tenements
or other realty sold shall be granted, assigned, transferred, or otherwise
conveyed to, or vested in the purchaser or purchasers, or any other person
or persons, by his or their direction, when the consideration or value of
the interest exceeds one hundred dollars, a tax at the rate of fifty cents
for each five hundred dollars or fraction thereof, exclusive of the value of
any lien or encumbrance remaining thereon at the time of the sale; pro-
vided however that no increase in the city or county recordation tax
authorized by § 58-65.1 shall be deemed authorized by enactment hereof.
The tax imposed under this subsection shall not apply to any instrument
or writing given to secure a debt.
No such deed, instrument or other writing shall be admitted to record
without certification of the clerk of the court wherein first recorded having
been affixed thereto that the tax imposed by this subsection has been patd.

The tax imposed by this subsection shall be paid by the grantor of
or any person who makes or signs on his behalf any of the deeds, instru-
ments or writings subject to the tax imposed by this subsection, ;

Taxes imposed by subsection (b) hereof shall be collected as provided
in § 58-62 and the clerk shall return taxes collected hereunder one-half
into the State treasury and one-half into the treasury of the locality or
localities wherein the property is located in the proportion that the value
of the property located in each such locality bears to the total value of
such property.