During the November Chenango County Board of Supervisors meeting, a new mortgage recording tax law was passed. The new law “A Local Law Imposing an Additional Mortgage Recording Tax in Chenango County” will take effect January 1, 2025. (file photo)

NORWICH — During the November Chenango County Board of Supervisors meeting, a new mortgage recording tax law was passed with little discussion and no public opposition.

The new law “A Local Law Imposing an Additional Mortgage Recording Tax in Chenango County” will take effect January 1, 2025.

“The purpose of this law is to authorize Chenango County to impose a one time recording tax collected at the time a mortgage is recorded and is solely imposed on a mortgage on real property,” said Chenango County Clerk Brian Wessels.

Wessels said the one-time recording tax does not correlate to taxpayers property taxes or affect their contractual based mortgage payments.

“Currently, our office collects 0.75 percent recording tax on newly created mortgages submitted for recording, but with the passing of the additional 0.25 percent recording tax, it will now be at 1 percent,” he said.