SCHENECTADY COUNTY Mortgage fee prompts debate Republicans blast majority over tax BY MICHAEL LAMENDOLA Gazette Reporter
A vote to reaffirm the mortgage recording fee became a battleground between Democrats and Republicans Tuesday night in the Schenectady County Legislature. Majority Democrats approved the measure, ensuring the county continues to receive approximately $1.7 million already budgeted for this year. Republicans voted against the fee. Had the fee not been renewed, the county would have had to close the revenue gap immediately, either by tapping its fund balance or making corresponding budget cuts. The fee generates 25 cents on every $100 of a home’s mortgage and is collected when a person fi les the mortgage with the Schenectady County clerk. A person with a mortgage of $250,000 would pay a $250 recording fee, officials said. The fee is not an annual charge to the homeowner. The county fi rst introduced it in 2005 with a sunset date of three years. During debate on the resolution, Legislator Joseph Suhrada, R-Rotterdam, called the recording fee “a tax on the American dream” and a discouragement to home ownership. He said the Legislature has a “great lust and greed for money” and called on Democrats to “curb spending.” Minority Leader Robert Farley, R-Glenville, also blasted Democrats on the measure: “All this Legislature does is raise taxes.” Legislator Gary Hughes, D-Schenectady, defended the proposal, saying the revenues are necessary to help keep county government solvent, especially in light of the having to pay for so-called unfunded mandates. Legislator Karen Johnson, DSchenectady, said the fee is a “reasonable way of raising money for counties and it has a major impact on our budget.” According to information provided by Democrats, 21 counties in the state have mortgage recording fees. Twenty of them charge 25 cents per $100 and one charges 50 cents per $100. Further, two more counties are asking the state Legislature to allow them to add the fee.
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Salvatore
July 9, 2008, 11:06am
Guest User
It is only a small fee so I don't see the problem too bad, but they do need to cut the spending and maybe they wouldn't need to institute these small fees night and day, so it seems anyhow.
(tic) $250 here, $500 there - what difference does it make, it's a small increase. (/tic)
has YOUR income gone up accordingly? No, you're forced to curb your families discretionary spending (if you consider heating fuel and food discretionary) - the County Legislature should be doing no less than looking for ways to SAVE money, not tax residents MORE to make up what they're overspending on.
Once the city/county gets a tax in place they never seem to remove or lower it. When ever the city/county needs more money for their pet projects they just find a way to tax the residents or add a fee to something we all need, they've been doing this for years.
yes, you are correct people here we have fees adding up all day and then snowballing into bigger amounts in total, but the truth one of them said was that all they do is raise the taxes here!!! I shouldn't make excuses. the worse part is that when the people put the payment down on the home they later get the real high cpst of the bill, at the closing, and by then it is too late for all of the buyers, since the county then has put it's hand deep in our purses or wallets what have you.
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