Updated Monday 12:55 p.m.
Governor Tim Kaine says he will ask
lawmakers to boost the titling tax on car sales and car
registration fees statewide for road upkeep.
Kaine proposed increasing the titling tax from 3 percent to 4
percent and boosting the registration fee by $10. The governor
released details of his plan at a state Capitol news conference
Monday.
The governor also proposed increasing the state sales tax by a
penny in traffic-clogged northern Virginia and Hampton Roads, with
the revenue to be spent only in those regions. He also wants to
increase the grantors tax, which is paid by people selling their
homes.
He will ask legislators to consider the measures at a special
session of the General Assembly he has called for June 23, the
second special session on transportation funding since 2006.
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Gov. Timothy M. Kaine will propose boosting
the titling tax on car sales and car registration fees statewide
for road upkeep.
In a teleconference Sunday night with Democratic legislators,
Kaine said he will propose increasing the titling tax paid on car
purchases from 3 percent to 4 percent and boost the registration
fee by $10, a person who heard the briefing told The Associated
Press.
Statewide, the taxes are expected to generate $1.1 billion per
year by 2014, said the person who spoke on the condition of
confidentiality because Kaine was withholding details of the plan
until a noon event at the state Capitol on Monday.
Kaine's legislation also calls for:
-Adding one cent to the sales tax rates in northern Virginia and
Hampton Roads to fund new construction projects in those populous,
traffic-choked areas;
-An increase statewide in the grantor's tax, which is paid by
people selling their homes.
Legislators will be asked to consider the legislation at a
special session of the General Assembly he has called for June 23,
the second special session on transportation funding since 2006.
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