Montgomery County amended the recording frees of deeds and mortgages during Thursday's Commissioners meeting to enhance the county's affordable housing efforts.
County Chief Financial Officer Uri Monson presented the ordinance to Commissioners. The purpose of the ordinance is to further the county's goal to provide fair and affordable housing for all Montgomery County residents.
Many of the fees have not been updated for the past 20 years. Monson stated that Philadelphia's fee per deed is $230, and Delaware County's fee per deed is $85. Montgomery County's fee is currently set at $13 per deed.
The recently passed ordinance, which will set in effect January 1, 2013, states the increases of the fees. The Affordable Housing Trust Fund base fee has been increased to $26 per deed or mortgage, each additional page fee has been increased to $4, each additional name has increased to $2, each additional parcel has been increased to $1. The county's fee for each additional parcel and the county's returned document fee have both increased to $10, and the fee for recording subdivision plans increased to $60.
The funds help to offset personnel, benefit costs and technology investments associated with the affordable housing trust fund.
The county expects around $1 - 1.2 million from the fees, but that is to increase with more economic activity.
Recorder of Deeds Nancy Becker was not able to be present at the meeting but stated her support for the increases.
Montgomery Commissioners unanimously passed the ordinance and increases to the fees.