Virginia title tax increases .05% July 1, from 4.0% to 4.05%

Virginia title tax increases .05% July 1, from 4.0% to 4.05%

In accordance with the tax package the Virginia General Assembly passed in 2013 which, among other things, raised the title tax on motor vehicle sales from 3% to 4% on July 1 a year ago, the same provision calls for a .05% increase per year thereafter until the title tax finally tops out at 4.15% on July 1, 2016. As such, Virginia title tax on vehicle sales goes from 4.0% to 4.05% July 1, 2014.Virginia dealers must take care that vehicle sales professionals and tag and title operations are ready to go with the title tax increase to 4.05% on vehicle sales occurring on or after Tuesday, July 1, 2014.