MAYVILLE – It appears mortgage tax revenue is increasing in Chautauqua County, reversing a trend.

During the county legislature’s Administrative Services Committee meeting, Legislature Chairman Pierre Chagnon, R-Ellery, reported that mortgage tax revenues are up by 3.7% from this time a year ago.

“That’s good news because six months ago, it (mortgage sales) was actually down quite a bit from the previous year. I’ve been concerned that the rising interest rates, that our mortgage activity was going to be decreasing and our mortgage revenue would be decreasing,” Chagnon said. “This is good news that it actually increased from last year.”

In December, 2023 Chagnon had reported that the mortgage tax revenue had fallen by 27.2%.

Chautauqua County collects taxes from mortgage sales and refinancing. Some of that money is redistributed to towns, villages and cities.

The legislature will vote at its full meeting on Dec. 18 to distribute a total of $818,535 in mortgage tax revenue to local municipalities. Of that amount, $605,978 is for towns, $127,721 is for cities, and $84,834 is for villages.

Among all municipalities, Stockton will receive the highest mortgage tax revenue, scheduled to receive $126,778. It was the only municipality to receive more than $100,000.

For cities, Jamestown will receive $83,519 in mortgage tax revenue and Dunkirk will receive $43,202.

Other towns are as follows: Arkwright, $5,111; Busti, $40,253; Carroll, $13,686; Charlotte, $4,063; Chautauqua (town) $33,922; Cherry Creek $12,280; Clymer, $9,106; Dunkirk (town) $2,222; Ellery, $48,792; Ellicott, 49,130; Ellington, $9,952; French Creek, $13,227; Gerry, $7,783; Hanover, 70,154; Harmony, $6,039; Kiantone, $3,765; Mina, $12,202; North Harmony, 20,665; Poland, $14,263; Pomfret, $41,517; Portland, 12,883; Ripley, $10,673; Sheridan, $11,547; Sherman, $9,601; Villenova, $3,584; Westfield (town), $12,775.

Villages are scheduled to receive the following: Bemus Point, $3,258; Brocton, $1,166; Cassadaga, $20,180; Celoron, $3,750; Falconer, $5,418; Fredonia, $20,380; Lakewood, $11,750; Mayville, $2,709; Panama, $708; Sherman, $1,822; Silver Creek, $8,334; Sinclairville, $689; Westfield (village), $4,665.