A quarterly update from the County Recorder’s Office presented this (Monday) morning to the Carroll County Board of Supervisors suggests national economic pressures are beginning to reflect on local figures. Recorder Ashten Wittrock says office revenues dropped precipitously in the year’s first three months.
The Recorder’s Office generates revenues primarily from fees associated with deed transfers, mortgage refinances, revenue stamps, and ATV/boat registrations. The only area that has not notably decreased is hunting and fishing licenses. Wittrock says almost everything else is way down.
Wittrock notes some sources, such as real estate transfers, are cyclic and typically pick up in the spring. However, with the average 30-year fixed-rate mortgage at 6.9 percent, it is hard to predict what property sales will look like in the months ahead. Wittrock says her staff has been able to catch up on some backlogged projects with fewer items needing to be recorded.
Board Chair Stephanie Hausman says the numbers are worrying if indicative of what is to come, and the board will be watching to see if the trend continues throughout the year.
The board unanimously accepted the Recorder’s Office Q1 2023 quarterly report after Wittrock’s presentation.
