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By MARY K. BLEWITT
Arundel Newspapers Richmond Bureau
RICHMOND — Northern Virginia will receive nearly $20 million in state recordation tax as a result of legislation approved by the General Assembly on the 46th and final day of the session.
In compromise legislation agreed upon between the House and the Senate, $40 million of the tax imposed on real estate transaction will be returned to the localities. The amount received by each locality will be proportionate to the amount generated from the locality.
Because the recordation tax is growth-related, Northern Virginia receives almost half of the money distributed. Fairfax County alone
88.8%