Marc Gravitt, the Hamilton County Register of Deeds, announced the Register’s Office surpassed all previous collection highs.
The state mandated Conveyance Tax and Mortgage Tax for the month of December, totaled $2,240,389.63, breaking the previous monthly high of $1,986,388.51, set this past July.
The total amount of the two taxes collected for calendar year 2020 was $18,816,704.17, also reaching a new high. The two were collected on more than $5.5 Billion in mortgage amounts, and over $3.3 billion in Hamilton County real estate conveyance (sale) amounts.
The Conveyance and Mortgage Taxes are both mandated by Tennessee Code Annotated, that every county Register in Tennessee is required to collect. Each month the Register’s Office remits payment to the Tennessee Department of Revenue.
Register Gravitt said, “With continued high demand for both commercial and residential real estate, the extremely low interest rates available, Hamilton County’s real estate market continues to be strong, which benefits all of Hamilton County.”
Additionally, the total amount of recorded documents was over 71,000 sets for the year, with 7,111 in December alone. A set can be a single page document, or as is usual the case multiple pages, which are uploaded into the Register’s system.