Recording a Mortgage
Mortgages cost $50.00 for the first page, and $5.00 for each page thereafter.
The mortgage tax rate in Cattaraugus County is 1.25 percent.
Mortgages that are exempt from the mortgage tax need to be accompanied by a tax affidavit, which costs $5.00 to record. These affidavits must be signed and notarized. Examples of exempt mortgages include those held by credit unions or private parties.
Properties that are, or will be, improved by a one- or two-family dwelling are eligible for a $25 discount.
As an example, here are the calcuations for a 10-page, non-exempt mortgage on a $100,000 home:
The per-page fee is $95.
The mortgage tax cost is $1,250.
Since it is improved by a one- or two-family dwelling and earns the $25 discount, the final cost to record the mortgage is $1,320 [$95 + $1,250 - $25].
Discharge of Mortgage [a.k.a. Satisfaction of Mortgage]
A Discharge or Satisfaction of Mortgage costs $50 for the first page and $5 for each additional page. A reference to the mortgage being satisfied costs fifty cents.
** As per New York State law SS 1921 Real Prop. Acts: After the principal, interest and any other amounts due have been paid, a Mortgagee has 45 days to arrange for a Satisfaction of Mortgage to be presented for recording to the recording officer of the county where the mortgage is recorded. **
Assignment of Mortgage
An Assignment of Mortgage costs $50 for the first page and $5 for each additional page. Each reference to a mortgage being assigned costs fifty cents.