HUTCHINSON, Kan. — The amount Reno County collected last year for the Mortgage Registration tax continues to shrink while the Recording Fee collected seems to have increased over 2014.
According to the numbers released by the county, they collected $38,797 in December, which was nearly $10,000 less than collected in November.
For the year, the county collected $415,133, which is a drop of over $310,000 when compared with 2014.
But, the recording fee collection in December is up compared to November. The amount collected in December was nearly $21,000 compared with the roughly $14,000 collected the previous month.
For 2015, the county collected just over $209,000, while the amount collected in 2014 was $134,357.
Putting the two together, the county collected a total of $624,193 in 2015. In 2014, they collected $860,104. That’s a drop in revenue last year of $235,911.
The state legislature changed the law with bankers and real estate agents, arguing that the change in the law allows home buyers to get a tax break.
The Mortgage Registration tax will eventually be eliminated by 2019.