Mortgage tax receipts rise for 2012
Mortgage tax collections in Steuben County in 2012 are in the rise, with total revenues collected by municipalities up more than $140,000 in one year.
According to reports filed by the county Clerk and Treasurer’s offices, May and November mortgage tax receipts this year totaled nearly $1.2 million, an increase of more than $140,000 compared to 2011 totals.
The increase came during the last six months when mortgage tax receipts jumped $120,000 compared to the same period in 2011.
Mortgage taxes are collected by the county for the municipalities, and reflect real estate transactions, including property sales and refinanced mortgages. The mortgage revenues are sent to the municipalities in six-month intervals.
This year is the second straight year of increases, after a sharp drop in total receipts was reported in 2010, when mortgage revenues were pegged at slightly more than $918,000.
Steuben County 2012 Mortgage Totals
2008 -- $1,213,604
2009 -- $1,367,249
2010 -- $918,087
2011 -- $1,042,908
2012 -- $1,189,719