November 23, 2012

Income from Franklin County mortgage fees increases


MALONE — Franklin County took in more than $100,000 in mortgage-tax fees during the last six months.

The total was a little more than the previous reporting period, when the county share was about $87,300, according to the County Clerk’s Office.

Affordable lending and refinancing rates were expected to help sell more homes this time, and it apparently worked as projected in the last six months.

For the reporting period from April 1 to Sept. 30, the county’s share was $101,471.

The state received $95,587, which is higher than the $83,900 it took in the last reporting period, from Oct. 1, 2011, to March 31, 2012.

Towns and villages are splitting a total of $221,183, compared to $192,462 from the previous reporting period, the Clerk’s Office said.

It has been seven years since the county received state permission to increase its mortgage-tax-filing fee from three-quarters of 1 percent to a full 1 percent.

Municipalities are allowed to spend their shares as they wish, but the county must dedicate its share to capital-improvement projects or repairs and maintenance at the County Courthouse.

Here is a breakdown of the funds to be distributed to towns and villages for the reporting period of April 1 to Sept. 30, 2012, rounded to the nearest dollar: 

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