field_block:node:page:title
Mortgage Tax Rate
field_block:node:page:body
The state Mortgage Tax rate is 0.0023 of the debt that is being secured by a mortgage on Minnesota real property. Hennepin and Ramsey counties have an additional Environmental Response Fund Tax of 0.0001 (ERF Tax).*
|
State/County |
Mortgage Registry Tax Rate | Environmental Response Fund Rate |
|---|---|---|
| State Rate for all Minnesota Counties | 0.0023 | N/A |
| Hennepin County (ERF Tax) | 0.0023 | 0.0001 |
| Ramsey County (ERF Tax) | 0.0023 | 0.0001 |
Example
A mortgage is recorded, securing a debt $100,000. Depending where the property is located, the Mortgage Tax would be as follows:
| Location of Sale | Mortgage Registry Tax Rate | Tax Due |
|---|---|---|
| Hennepin County |
(0.0023 x $100,000) + (0.0001 x $100,000) |
$240 |
| Ramsey County |
(0.0023 x $100,000) + (0.0001 x $100,000) |
$240 |
| All other Minnesota Counties | 0.0023 x $100,000 | $230 |
Note: The mortgagor (borrower) is the person liable for the tax, which is imposed on the recording of a mortgage.
* See Minnesota Statutes, section 383A.80 and section 383B.80.
