On November 12, at 10:40 a.m., the board of supervisors will hold a public hearing regarding the proposal for a new local law imposing an additional Mortgage Recording Tax in Chenango County. (Photo by Tyler Murphy)

NORWICH — The Chenango County Board of Supervisors is considering a proposed local law to formally enact an additional mortgage recording tax in Chenango County.

There will be a public hearing held regarding the proposed additional tax at 10:40 a.m., November 12, in the Supervisors' Chambers located at 5 Court Street, in the County Office Building in Norwich.

The purpose of the tax law is to authorize Chenango County to impose a one time additional .25 cents per $100 to be secured at the date of execution of property purchases with taxes to be administered, collected and paid to the recording office of the County of Chenango.

Chenango County Clerk Brian Wessels said the rate equals a one time fee of $250 per $100,000 of property purchased.

He said Chenango County currently collects New York State (NYS) imposed Mortgage Recording Tax at a rate of 3/4 percent per $100.00 and includes the 1/4 percent Special Additional Mortgage Tax (SAMT).