Union County Clerk Joanne Rajoppi reports that revenues for transactions recorded by her office totaled more than $40 million in 2016, the highest since the global financial crash of 2008.
“The robust level of activity in 2016 is further evidence that the Union County economy is on a strong footing,” said Ms. Rajoppi.
Under the New Jersey Constitution, the office of the County Clerk is responsible for recording deeds, mortgages and all documents related to land transactions.
“The global financial crisis had an immediate effect on real estate activity in Union County,” Ms. Rajoppi said. “County Clerk revenues dropped from approximately $48 million in 2006 to $45 million in 2007, and then down to $38 million in 2008. Revenues hovered in the $23 million range for the next three years before beginning to pick up in 2011.”
Final revenue figures for 2016 totaled $40,443,756. The Recording Division yielded $39,800,756 in transactions. The Business Division revenue totaled $642,452.
“Even with the increased activity, my office ensures that all documents are recorded on the same day,” said Ms. Rajoppi. “Our staff is experienced, professional and dedicated to excellence.”
Ms. Rajoppi’s office provides an online recording service in addition to accepting submissions in person, or via courier service including USPS, UPS, FedEx and NJLS.
“E-recording is by far the most convenient method because it is available 24/7 from any location with an Internet connection,” said Ms. Rajoppi. “We encourage our clients to use e-recording, but our one-day turnaround commitment also applies to walk-ins and mail.”
By law, the majority of County Clerk revenues are remitted to the State of New Jersey. In 2016, Union County retained $8,724, 042 of the total and remitted $32,503,298.
In addition, Union County retained $216,416 for the Union County Homeless Trust Fund.
Established in 2010 under a State law, the Trust Fund is financed with a $3.00 fee on each transaction handled by the County Clerk.
“I’m proud to say that Union County was among the first counties in New Jersey to establish a Homeless Trust Fund,” said Ms. Rajoppi. “The funds have made a great deal of difference in the lives of Union County residents who struggle with housing issues.”
To date, the Homeless Trust Fund has collected $973,546. The funds go to homelessness prevention services as well as affordable housing and rental assistance vouchers.