County commissioners support keeping state mortgage registration fee

01/15/2014 10:16 AM

01/15/2014 10:16 AM

Sedgwick County commissioners voiced their support Wednesday to keep the state’s mortgage registration fee.

Board members passed a resolution asking the Kansas Legislature to keep the fee, charged on all mortgage transactions.

Realtors and bankers are lobbying to repeal the fee, which is estimated to generate about $47 million statewide – including $6 million to $8 million in Sedgwick County — every year.

But county officials warn that property taxes for everyone will have to go up if the fee is eliminated, including for property owners who already paid the fee.

The current fee is a one-time payment of .26 percent of the principal debt securing the mortgage.

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