To the Editor:
We believe the Legislature should not repeal the mortgage registration fee. It represents $260 on a $100,000 loan, is paid off over the life of the mortgage and is paid only once. A refinancing of the original loan amount does not generate a second fee.
The 89-year-old user fee was created in part to help counties statewide reduce their reliance on the property tax. The pro-perty tax is every county’s pri-mary source of revenue for the services the public expects, such as the ambulance, health department and courthouse.
Statewide, it is estimated that counties will lose up to $47 million a year in revenue. Eliminating $1 million annually from Riley County’s budget, even by means of a “phase-out,” necessarily leads to either a reduction of services or an increase in the property tax.
Repeal represents a shift of liability away from the party obtaining a loan and onto the general taxpayer.