Deed Tax Rate
The Deed Tax rate is 0.0033 of the net consideration. Hennepin and Ramsey counties have an additional Environmental Response Fund Tax of 0.0001 (ERF Tax).*
|State/County||Deed Tax Rate||Environmental Response Fund Rate|
|State rate for all Minnesota counties||0.0033||N/A|
|Hennepin County (ERF Tax)||0.0033||0.0001|
|Ramsey County (ERF Tax)||0.0033||0.0001|
Real Property is sold for $200,000.
|Location of Sale||Deed Tax Rate||Tax Due|
|Hennepin County||(0.0033 x $200,000) + (0.0001 x $200,000)||$680|
|Ramsey County||(0.0033 x $200,000) + (0.0001 x $200,000)||$680|
|All other Minnesota Counties||0.0033 x $200,000||$660|
Consideration: The value given in return for a conveyance of real property. (See Minnesota Statute 287.20 subdivision 2.)
Net Consideration: Consideration less the value of any lien or encumbrance remaining on the property prior to the time of sale and that is not released or satisfied as a result of the sale. An example would be a buyer’s assumption of the seller’s mortgage.
Execution and Delivery: Deed Tax is due when a taxable deed or instrument is presented for recording. (See Minnesota Statute 287.21 subdivision 1[d].)