A tax is imposed on the privilege of recording a mortgage. The tax rate is .0023 of the debt or portion of a debt that is secured by any recorded mortgage of real property located in this state. The person liable for the tax is the mortgagor. The tax is not imposed on the lawful interest amounts that may accrue with respect to a debt.
Minn. Stat. § 287.035
IMPOSITION OF TAX.
Applied in 1 court decision — leading case Business Bank v. Hanson (2009)
Most recently applied in Business Bank v. Hanson (July 2009)
1999 c 31 s 3; 1Sp2001 c 5 art 7 s 24
Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.