Reston Association poised to increase property purchase fee

A fee for new property purchases in Reston could increase from $311 to $353.

Reston Association’s Board of Directors is slated to vote on the matter this Thursday (Nov. 18) at a regular meeting. It involves the so-called “Transfer Fee,” a one-time cost paid by a person buying a property.

The fee can be credited to a property owner’s annual assessment fee if certain conditions are met, where the homebuyer is a Reston Association resident buying a new property and selling their current one.

RA projects the change would generate an additional $45,000 in revenue next year.

It comes as the association prepares to pass its upcoming budget, which has proposed an increase in its annual assessment from $718 to $735. The board could approve that change, too, during the Nov. 18 meeting.

The fee was created in 2006, and RA staff recommended the change as the association sought to reduce the proposed assessment fee increase for the upcoming year.

Recent Stories

The Fairfax County Board of Supervisors is examining whether developers should continue to bear new infrastructure costs or split the costs among current residents and other property owners. Sewer fees…

People who were at Inova Fairfax Hospital’s emergency department earlier this week may have been exposed to measles, the Virginia Department of Health reported today (Wednesday). According to VDH, an…

The Friends of Reston Regional Library (FRRL) is celebrating Fairfax County Public Library’s theme for 2022 — the year of literacy — with a record-setting gift. The nonprofit organization, which…

The family behind Knossos Restaurant, an eatery that called Leesburg home for a decade, is bringing its Greek and American cuisine to Elden Street. Owner Sarfraz Nawaz said many customers…

×

Subscribe to our mailing list