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Latest Mortgage Registration and Recording Fee numbers announced

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HUTCHINSON, Kan. — Even though the Mortgage Registration Tax is being phased out, the county in May actually collected more of that tax than the previous month.

According to figures released by the county, they collected just over $22,885 in May, a slight increase over the April number when they collected just over $21,700. But that number is less than half of what the county collected in May of 2015 when it was well over $50,000.

The numbers for the recording fee collected was also up in May compared with April. The county actually collected $26,741, compared with April when they collected just over $24,475. That number is also an increase over May of 2015 when they collected $19,374.

That was expected after the state legislature changed the law with plans to phase out the Mortgage fee, but allow the recording fee to increase some.

Bankers and real estate agents argued that the change in the law allows home buyers to get a tax break with not having to pay the Mortgage Registration tax, which will be eliminated by 2019.

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