Bill > HB1392

This bill amends an existing Oklahoma statute related to mortgage taxes and county treasurer fees by increasing the fee that county treasurers can collect for mortgage certification from $5 to $10. The bill maintains the existing complex tax structure for real estate mortgages, which imposes different tax rates based on the mortgage's duration (ranging from 2 cents to 10 cents per $100 depending on the length of the mortgage term). The new fee will be collected on each mortgage presented for certification and deposited into the "County Treasurer's Mortgage Certification Fee Account", which can be used to support the lawful operations of the county treasurer's office. The bill specifies that the tax can be paid by the mortgagor, mortgagee, or any other interested party, and it is set to become effective on November 1, 2025. The purpose appears to be providing additional financial resources to county treasurer offices to help cover administrative costs associated with mortgage certification.

Government Affairs

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1392&Session=2600