Ontario County has elected to join the Rochester-Genesee Regional Transportation Authority and effective August 1, 2014, will begin collecting the additional $.25 mortgage recording tax imposed by New York State Law. Therefore, as of August 1, 2014, the rate of mortgage recording taxes imposed on the recording of mortgages on real property located in Ontario County will be increased to $1.00 for each $100.00 secured by the mortgage.
Form MT-15, Mortgage Recording Tax Return, is being revised to reflect the new rate and will begin to be used on August 1, 2014.
If you have any questions in regards to mortgage tax, recordation costs, etc. please never hesitate to contact our NY Title Insurance professionals at 917-937-7290.