HUTCHINSON, Kan. — The mortgage and registrations fees are on the way out as a funding source for Reno County.
But they got a nice shot in the arm in the month of May when it comes to the fees collected. That’s due to the new Tenawa Gas facility that’s being built near Haven. According to County Administrator Gary Meagher, the county took in more than $229,000 in mortgage fees in May. $195,000 of that came from the Tenawa project. Meagher says the fears of lower revenue from the elimination of the Mortgage fees will likely become a reality as real estate firms are looking for ways to cut down on the amount of paper used in their transactions.
Those paper processing fees were suppose to replace the mortgage fee, but many county administrators say it wont make up the difference.