HUTCHINSON, Kan. — Something that will be phased out over the next few years is the Mortgage Registration Tax and Recording Fee, but for now the county is still benefiting.
County Administrator Gary Meagher presented the County Commission with the latest numbers that show the county is ahead of last year by $114,309.
In July, the county collected $67,596.23 for the Mortgage Tax and $12,534 for the recording fee.
The state imposes a fee of $2.60 for every $1,000 borrowed to register mortgages, and most of the money goes to the 105 counties across the state.
The new law will increase other fees, but not enough to offset the losses to counties. Governor Sam Brownback signed legislation to phase the fee out by 2019.