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State Deed/Mortgage Registration Tax

State Deed Tax

Minnesota Statute 287.21 provides for deed tax to be paid when a deed is presented for recording. When there is no consideration or when the consideration is $3,000.00 or less, the minimum deed tax amount of $1.65 is due. For consideration over $3,000.00, the tax is .0033 of the purchase price. For example, the state deed tax on a home purchased for $150,000.00 is $495.00 (150,000 x  0.0033).

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 0.0023 of the total debt secured. For example, the mortgage registration tax on a mortgage of $125,000.00 is $287.50 (125,000 x 0.0023).

Checks for Mortgage Registration Tax should be made out to ‘Lake County Auditor’