To: Our Valued Customers
Dated: October 15, 2009
From: Sal J. Turano
Subject: Nov 1, 2009 - Mortgage Tax Rates in Genesee and Cattaraugus Counties

 

 

Genesee County has enacted legislation to extend the imposition of the Genesee County mortgage recording tax to apply to mortgages recorded on or after November 1, 2009.  Please click on the link below to see our previous memo dated October 24, 2007 regarding this.

http://www.abstractsinc.com/content.asp?contentid=117

Therefore, the rate of mortgage recording taxes imposed on the recording of mortgages on real property located in Genesee County will continue to be $1.25 for each $100.

 

In Cattaraugus County the mortgages are currently subject to the basic, additional and special additional mortgage recording taxes at the combined rate of $1.00 for each $100 secured by the mortgage.  Effective November 1, 2009 Cattaraugus County has elected to impose a county mortgage recording tax of $.25 for each $100.00 secured by the mortgage.  It will apply to mortgages recorded on or after November 1, 2009.  Therefore the rate of mortgage recording taxes on real property located in Cattaraugus County will be $1.25 for each $100.00 secured.

 

 

Remember to visit our website www.AbstractsInc.com for past and present memos, information regarding Abstracts, Incorporated and updated forms.