County commissioners support keeping state mortgage registration fee
01/15/2014 10:14 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.
Join the Discussion
The Wichita Eagle is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.