Kansas votes to repeal mortgage registration fees
Topeka Kansas senators have approved a bill repealing mortgage registration fees, a move that county leaders say will cost them millions of dollars.
The Wichita Eagle reports Senate Bill 298 would phase out over five years the fees lenders pay to county governments based on the cost of a mortgage for a residential or commercial property. The bill offsets some of the lost revenue with an increased document filing fee for deeds and mortgages.
The fees brought in $7.4 million in revenue for Sedgwick County in 2012. County spokeswoman Kristi Zukovich says the county estimates it will lose as much as $800,000 in 2015 and $3.4 million by 2019.
Sent. Jeff Melcher, a Leawood Republican, says if counties need to make up the lost revenue they can raise property taxes.
More like this story
- Tonganoxie football staves off Perry-Lecompton rally for first victory
- Tonganoxie football holds on again after big lead for 2nd victory of season
- De Soto hands Tonganoxie football second straight loss
- THS baseball team scores late for victory against Holton
- Lansing sinks Tonganoxie soccer with overtime goal