Mortgage registry and deed tax calculator
Mortgage registry tax
The mortgage registry tax ("MRT") is a tax imposed when recording a mortgage. The tax rate for the mortgage registry tax is $.0023* times the amount of debt or portion of debt secured by any recorded mortgage of real property located in this state, as provided for under Minnesota Statutes, Section 287.035. The party liable for the tax is the mortgagor.
Mortgage registration tax rate
Environmental Response Fund rate
The deed tax is a tax imposed on each deed or instrument by which any real property in this state is granted, assigned, transferred, or otherwise conveyed, as provided for under Minnesota Statutes, Section 287.21. The tax applies against the net consideration. For purposes of the tax, the conversion of a corporation, a partnership to a limited partnership, a limited partnership to another limited partnership or other entity, or a similar conversion of one entity to another does not grant, assign, transfer, or convey real property. (b) The tax is determined in the following manner: (1) when transfers are made by instruments pursuant to (i) consolidations or mergers, or (ii) designated transfers, the tax is $1.70; (2) when there is no consideration or when the consideration, exclusive of the value of any lien or encumbrance remaining thereon at the time of sale, is $500 or less, the tax is $1.70; or (3) when the consideration, exclusive of the value of any lien or encumbrance remaining at the time of sale, exceeds $500, the tax is $.0033* of the net consideration.
Deed tax rate (over $500)
Environmental Response Fund rate (over $500)
*Note: These tax amounts include an amount of $.0001 (ERF Tax) per MS 383B.80, subd.1.