Effort Underway in Kansas to Eliminate the Mortgage Registration Fee/Tax
The Kansas Bankers Association is planning a push during the next legislative session in Kansas to eliminate the Mortgage Registration Fee (also referred to as the Mortgage Registration Tax). The mortgage registration fee is a fee/tax paid to county government whenever a mortgage is required to purchase real property in the state. The MRT is part of the closing costs paid by the buyer. According to Ed Eilert, Chairman, Board of County Commissioners for Johnson County, eliminating the fee would cost the County $16 million a year in lost revenue that would need to be made up in other ways, such as increasing the mill levy. Neither the Kansas Building Industry Association nor the HBA has taken a position on this issue.