Relates to authorizing the county of Otsego to impose an additional mortgage recording tax of 25 cents per $100 of principal debt

This bill authorizes Otsego County to charge an additional mortgage recording tax of 25 cents for every $100 of debt secured by a mortgage on real property within the county. The tax applies to mortgages recorded on or after the date the local law takes effect and is collected by the county recording officer in the same manner as existing recording taxes. Revenue generated from this tax will be deposited into the county's general fund to support any local purposes, and the authorization is set to expire on December 31, 2025.