Mortgage Taxes Explained
Mortgage tax is calculated by dividing the amount of the mortgage by $100 (or part thereof), then multiplying that figure by a rate determined by the term of the mortgage, plus a 5.00 Certification Fee.
Mortgage Tax Rate Table
|Mortgage Term:||Tax Rate per $100 (or part)|
|is 5 years or more||.10|
|is 4 years and less than 5 years||.08|
|is 3 years and less than 4 years||.06|
|is 2 years and less than 3 years||.04|
|is less than 2 years||.02|
Make checks payable to the County Treasurer.