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Last Updated: 4/13/2018

Historic Tax Rates

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Year Mortgage Tax ​Rate

​1907

​$0.50 per $100 of principal debt being secured

​1913

  • Mortgage term 5 years or less: $0.15 per $100 of principal debt
  • Mortgage term over 5 years: $0.25 per $100 of principal debt

​1945

​$.015 per $100 of principal debt for all mortgages

​1987

​$0.23 per $100 of principal debt being secured

​2001

​New method to calculate this tax due to a law change:

  • New rate of 0.0023 multiplied by debt secured by the mortgage

  • Hennepin and Ramsey counties have an additional Environmental Response Fund (ERF) Tax of 0.0001