New Kansas Law Phases Out Mortgage Registration Tax

May 22, 2014 at 3:28 pm Leave a comment

Kansas Governor Sam Brownback recently signed into law a bill phasing out the mortgage registration tax that requires anyone taking out a mortgage to buy property in Kansas to pay a tax of 0.26% on the principal debt or obligation secured by the mortgage. As summarized in the table below, this phase out will reduce the mortgage registration tax over a five-year period until the tax is completely eliminated in 2019.

Calendar Year

Mortgage Registration Tax

2014

0.26%

2015

0.20%

2016

0.15%

2017

0.10%

2018

0.05%

2019

0.00% (Totally Repealed)

Click here to view the full text of the amendment.

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