Interest Rates for Minnesota Counties
County auditors, treasurers, and land commissioners should use the interest rates in the table below for delinquent real and personal property taxes and for special assessments. A brief explanation of each rate follows the table.
|
Year |
Delinquent Taxes |
Property Tax Judgments |
Confession of Judgment, |
Confession of Judgment, |
Repurchase, or Tax-Forfeited Land Sold on Contract for Deed |
| 2020 | 10% | 4% | 7% | 10% | 10% |
| 2019 | 10% | 4% | 7% | 10% | 10% |
| 2018 | 10% | 4% | 5% | 10% | 10% |
| 2017 | 10% | 4% | 5% | 10% | 10% |
| 2016 | 10% | 4% | 5% | 10% | 10% |
| 2015 | 10% | 4% | 5% | 10% | 10% |
| 2014 | 10% | 4% | NA | 10% | 10% |
| 2013 | 10% | 4% | NA | 10% | 10% |
| 2012 | 10% | 4% | NA | 10% | 10% |
| 2011 | 10% | 4%2 | NA | 10% | 10% |
| 2010 | 10% | 4% | NA | 10% | 10% |
1 The 2014 Minnesota Legislature passed legislation for a new interest rate on confession of judgment contracts on delinquent property classified as 1a or 1b and used as the homestead of the owner. The interest rate is equal to the higher of 5% or 2% over the prime rate as certified by the commissioner of revenue under Minnesota Statute 270C.40. subd. 5 (see Minnesota Statute 279.37. subd.2. para. (b).) This interest rate is effective beginning with qualified confession of judgment contracts established on or after January 1, 2016. The interest rate will be certified to the county auditors by the Minnesota Department of Revenue on or before November 1 each year.
2 Prior to April 16, 2010, this rate was certified at 4% for $50,000 or less and 10% for judgments over $50,000. Laws of Minnesota 2010. Chapter 249, revised Minnesota Statutes, section 549.09, subd. 1, to exempt the state and political subdivisions from increased interest rates on judgments and awards regardless of the amount.
Questions?
PropTax.Admin@state.mn.us, Auditor/Treasurer Services, 651-556-6091