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#95049 - 07/08/03 06:54 PM Increases in Certain Recording Fees
Anonymous Unregistered	On 7/1/03, Governor McGreevey signed Assembly Bill 3719 into law. The law is P.L. 2003, c. 117. It raises certain recording fees charged by County Clerks and Registers. Visit www.njleg.state.nj.us and do a search on A3719. Open up the PDF file for the latest text of the bill and then go to pages 41 - 42 of the 47 page document. This is where you will see the fees that have been increased. It looks like the clerks will begin collecting the higher fees as of July 21, 2003.
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#95050 - 07/08/03 09:26 PM Re: Increases in Certain Recording Fees
Sinatra Fan Power Poster Joined: Jul 2002 Posts: 5,568 New Jersey	Thanks very much for the heads up! It does indeed appear that the county clerks/registers will be charging the higher fees immediately. Where did you get the date of July 21 from? _________________________ Management is doing things right; leadership is doing the right things. Peter Drucker
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#95051 - 07/09/03 04:11 PM Re: Increases in Certain Recording Fees
Anonymous Unregistered	The date of July 21st was in a something I received from a title company. I am not sure where they got this date from. In reading the Assembly bill it seemed like the law would take effect immediately. The last time these fees were increased I also think there was some type of delay before we had to start remitting the higher fees. I think there is some type of association for county clerks and they may have made the decision to delay the implementation of the higher increases for a few weeks to allow them to revise their computer systems, etc. to handle the increased fees. Does anyone else recall this?
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#95052 - 07/09/03 04:43 PM Re: Increases in Certain Recording Fees
Anonymous Unregistered	Here is a link to information posted on the Cape May County Clerk's web site. http://www.capemaycountygov.net/Cit-e-Access/news/index.cfm?NID=1398&TID=5&jump2=0&DID=125 They indicate that the increase realty transfer fee is effective July 14, 2003 and the increased recording fees are effective July 21, 2003. It makes reference to a directive from Governor McGreevey. I cannot seem to find that document.
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#95053 - 07/09/03 05:38 PM Re: Increases in Certain Recording Fees
Retired DQ 10K Club Joined: Dec 2002 Posts: 40,766 Turnpike Exit 10	Thanks! _________________________ Get your facts first, then you can distort them as you please. - Mark Twain
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#95054 - 07/09/03 09:10 PM Re: Increases in Certain Recording Fees
Sinatra Fan Power Poster Joined: Jul 2002 Posts: 5,568 New Jersey	We received written notification today from the Monmouth County Clerk, indicating the new fees will go into effect July 21, 2003. Fait accompli. Given the huge volume of mortgage activity in the state, and given that the county recording officers will collect money both on cancelling and recording mortgages, don't you think their coffers will be swelling with fee income for the rest of the year? And what do we get for this? Longer and longer delays in recordation. Thanks, Governor McGreedy. _________________________ Management is doing things right; leadership is doing the right things. Peter Drucker
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#95055 - 07/10/03 01:52 PM Re: Increases in Certain Recording Fees
Elaine K. Sheehan 100 Club Joined: Jul 2002 Posts: 157 Grand Rapids, MI	Quote: We received written notification today from the Monmouth County Clerk, indicating the new fees will go into effect July 21, 2003. Fait accompli. Given the huge volume of mortgage activity in the state, and given that the county recording officers will collect money both on cancelling and recording mortgages, don't you think their coffers will be swelling with fee income for the rest of the year? And what do we get for this? Longer and longer delays in recordation. Thanks, Governor McGreedy. One of the things that recorders have done a poor job at is educating the public about what happens to the revenue that they bring in. Usually that income goes to the general fund (not to their budgets) which is controlled by county commissioners who view recorders offices as unnecessary expenses. Most county recorders offices are understaffed and under funded. If you want changes in the way recorders do business hold your county commissioners accountable. The other point to be aware of is the poor condition that many state budgets are in. Governors have learned from the banking world that fee income is a wonderful source of money. Expect doubling of all sorts of fees in these states, these increases will have very little to do with the running of the agency that collects the fee but rather will go to the general fund.
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#95056 - 07/10/03 04:15 PM Re: Increases in Certain Recording Fees
Sinatra Fan Power Poster Joined: Jul 2002 Posts: 5,568 New Jersey	Quote: One of the things that recorders have done a poor job at is educating the public about what happens to the revenue that they bring in. Usually that income goes to the general fund (not to their budgets) which is controlled by county commissioners who view recorders offices as unnecessary expenses. Most county recorders offices are understaffed and under funded. If you want changes in the way recorders do business hold your county commissioners accountable. The other point to be aware of is the poor condition that many state budgets are in. Governors have learned from the banking world that fee income is a wonderful source of money. Expect doubling of all sorts of fees in these states, these increases will have very little to do with the running of the agency that collects the fee but rather will go to the general fund. You are absolutely correct. For example, NJ has been increasing the tax on cigarettes to such a degree that the bridges to PA are busy with people crossing over to buy their smokes there. And all the revenue that had been promised since 1979 from the Atlantic City casinos has vanished like a gambler's lucky streak. _________________________ Management is doing things right; leadership is doing the right things. Peter Drucker
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#95057 - 07/10/03 04:25 PM Re: Increases in Certain Recording Fees
Retired DQ 10K Club Joined: Dec 2002 Posts: 40,766 Turnpike Exit 10	Quote: You are absolutely correct. For example, NJ has been increasing the tax on cigarettes to such a degree that the bridges to PA are busy with people crossing over to buy their smokes there. And all the revenue that had been promised since 1979 from the Atlantic City casinos has vanished like a gambler's lucky streak. Don't get me going, Stephen! _________________________ Get your facts first, then you can distort them as you please. - Mark Twain
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#95058 - 07/10/03 05:43 PM Re: Increases in Certain Recording Fees
Kathleen O. Blanchard 10K Club Joined: Dec 2000 Posts: 21,293	Well, as long as the people from NJ heading over to PA to buy cigarettes don't crash into the people from PA heading to NJ to buy liquor! Those bridges could get mighty busy! _________________________ Kathleen O. Blanchard, CRCM "Kaybee" HMDA/CRA Training/Consulting/Mapping The HMDA Academy www.kaybeescomplianceinsights.com
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#95059 - 07/10/03 07:22 PM Re: Increases in Certain Recording Fees
Retired DQ 10K Club Joined: Dec 2002 Posts: 40,766 Turnpike Exit 10	Actually I didn't know that liquor was pricey in PA? Hmmm... which sin should I give up first? _________________________ Get your facts first, then you can distort them as you please. - Mark Twain
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#95060 - 07/10/03 09:39 PM Re: Increases in Certain Recording Fees
Kathleen O. Blanchard 10K Club Joined: Dec 2000 Posts: 21,293	It is pricier here (primarily because we can only but at the "state stores"...no private stores (except for beer sales, of course). It used to also be a convenience thing but they changed to "Wine and Spirit Shoppes" and extended hours, etc. Even testing Sunday hours now! Shocking! The stores used to look like jails! Now they at least have gussied them up to look like a retail store. _________________________ Kathleen O. Blanchard, CRCM "Kaybee" HMDA/CRA Training/Consulting/Mapping The HMDA Academy www.kaybeescomplianceinsights.com
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