78730358.1-804Virginia Decodedhttps://vacode.org2016TaxationTaxes Administered By The Department Of TaxationState Recordation TaxConstruction loan deeds of trust or mortgagesCode 1950, § 58-55.1; 1970, c. 313; 1973, c. 139; 1977, c. 398; 1984, c. 675.http://law.lis.virginia.gov/vacode/58.1-804/58.1-803Deeds of trust or mortgages; maximum tax/58.1-803//58.1-804/58.1/I/8/58.1-80458.1-80958.1-81158.1-811The tax provided by § 58.1-803 shall apply to construction loan deeds of trust or mortgages.sectionBB1The tax provided by § 58.1-803 shall not be imposed upon a permanent loan deed of trust or mortgage, as defined herein, if such deed of trust or mortgage is recorded within three years of the date of the recordation of the construction loan deed of trust or mortgage, as defined herein, and the tax on the construction loan deed of trust or mortgage has been paid. However, if the permanent loan deed of trust or mortgage, as defined herein, secures an instrument, the principal amount of which is more than the construction loan deed of trust or mortgage, the tax shall be imposed and calculated on the additional amount. Such permanent loan deed of trust or mortgage shall contain a reference to the construction loan deed of trust or mortgage and the book and page where recorded.sectionCC1