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Archive for Thursday, March 20, 2014

Senate votes to repeal mortgage registration fees

March 20, 2014

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— 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.

Comments

Richard Heckler 9 months ago

Right wing republicans believe they are tax reducers when in fact they are tax increasers in a very big way.

No one can believe the GOP right wing party. This strategy has been working since the days of Reagan/Bush till present. The GOP right wing party lies to itself.

When they are on the campaign trail they will claim that cutting taxes in the legislature is not the same as making local communities increase taxes as a result of their actions.

The hidden costs of Supply Side Economics = increased taxes.

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