Deed & Mortgage Registration Taxes
Deed Registration Tax
Minnesota Statute 287.21 provides for deed tax to be paid on a deed to be recorded. For minimal deeds that represent no consideration or $500 or less, the deed tax is $1.65. For deeds where the consideration exceeds $500, the rate is .0033 of the purchase price. For example, the deed registration tax on a home purchased for $150,000.00 is $495.00 (150,000 x .0033).
An electronic Certificate of Real Estate Value (eCRV) must accompany all deeds with the consideration over $1000. Minnesota Statute 272.115. The website for filling these out is available by going to the Minnesota Department of Revenue's website or by clicking here.
Checks for State Deed Tax should be made out to Lake County Auditor.
Mortgage Registration Tax
Minnesota Statute 287.035 provides for mortgage registration tax to be paid on mortgages to be recorded. The rate is .0023 of the total debt secured. For example, the mortgage registration tax on a mortgage of $125,000.00 is $287.50 (125,000 x .0023).
Checks for Mortgage Registration Tax should be made out to Lake County Auditor.