There shall be paid to the registrar upon the original registration of land under this chapter, under absolute or qualified ownership, one-tenth of one per cent of the assessed value of the land and improvements on the basis of the last assessment for taxation.

Where the land sought to be registered was not separately assessed at the time of the last assessment for taxation, the value of the same shall be as found by the court as of July 1 preceding the date on which the application was filed. The court may appoint one or more appraisers at such rates of pay as it deems just, the cost to be taxed against the applicant.

All moneys received by the registrar under this section shall be paid to the director of finance as a realization to the general fund.