Taxpayers who don't qualify to exclude all of the taxable gain from their income must report the gain from the sale of their home when they file their tax return. Anyone who chooses not to claim the exclusion must report the taxable gain on their tax return.

Virginia. Taxes capital gains at the same rate as income, a flat rate of 5.75%.

Is there a real estate tax exemption for seniors and people with disabilities? Yes, Fairfax County provides real estate tax exemption to residents who are either 65 years of age or older or permanently and totally disabled and meet the income and asset eligibility requirements.

In some cases, a local government will assess taxes on only a percentage of the value of the property. To calculate the assessed value when a local government uses such a percentage, you'll have to take the property's fair market value and multiply it by the chosen percentage.

Send us an email (see links below) or call us at 703-222-8234 (TTY 711) weekdays from 8AM to PM.

You need the Virginia State's Division of Motor Vehicles website. How can I obtain information about personal property taxes? You can call the Personal Property Tax Division at (804) 501-4263 or visit the Department of Finance website .

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The Board of Supervisors sets the general tax rate that applies to all real property in the county. To have your name will be withheld from the Fairfax County Real Estate Division website, please complete an Owner Name Withholding Form.This article delves into the importance of reporting the sale of your home on your taxes in Virginia, exploring the legal requirements, potential tax benefits, Virginia Tax requires businesses to file and pay most sales taxes electronically - we offer 3 free options to meet this requirement. Beginning July 2013, withholding tax returns and withholding tax payments must be filed and paid electronically using one of our three online systems. Calculate how much you can expect to pay in property taxes on your home in Fairfax County, Virginia. Compare your rate to the state and national average. These instructions are provided to assist you in completing the form. If you should have any questions or need assistance, please contact our office. This involves filing Form 8288-B with the IRS, along with supporting calculations that show the actual tax you expect to owe on the sale.

Property Sale Our Withholding Tax In Fairfax

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Does selling a house count as income on taxes?

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