Mortgage Registration Tax

Mortgage Registration Tax is due on recording of mortgages which are secured by real property located in Minnesota.

The amount of the tax is determined by multiplying .0023 times the amount of the mortgage.

Documents exempt from Mortgage Registration Tax (MRT) under Minnesota Statues (MS) 287.04 are:

  1. Any mortgage resulting from a decree of marriage dissolution (divorce decree), or an instrument made pursuant to it, is exempt from the MRT under MS 287.04(a). This includes a "summary real estate disposition judgement" under MS 287.01 subdivision 4.
  2. Any mortgage that corrects a mistake in an existing mortgage is exempt from the MRT under MS 287.04(b).
  3. Any mortgage or other document that adds additional security for the same debt for which MRT has already been paid. MS 287.04(c).
  4. Any form of a Contract for Deed is exempt from MRT under MS 287.04(d).
  5. A mortgage secured by real property subject to the minerals production tax of sections 298.24 to 298.28 is exempt. MS 287.04(e).
  6. A mortgage loan made under a low and moderate affordable housing program, if the mortgagee is a federal, state, or local government agency. MS 287.04(f).
  7. A mortgage granted by fraternal benefit societies subject to section 648.24. MS 287.04(g).
  8. A mortgage amendment or extension, as defined in section 287.01. MS 287.04(h).
  9. An agricultural mortgage, if the proceeds of the loan secured by the mortgage are used to acquire or improve agricultural property. MS 287.04(i).