Mortgage Registration Tax (MRT) is determined by multiplying .0023 times the mortgage amount.
Instruments exempt from mortgage tax under Minnesota Statutes § 287.04:
- A mortgage amendment or extension, as defined in section 287.01. M.S. 287.04(h)
- A mortgage granted by fraternal benefit societies subject to section 64B.24. M.S. 287.04(g)
- A mortgage loan made under a low and moderate affordable housing program, if the mortgagee is a federal, state, or local government agency. M.S. 287.04(f)
- A mortgage secured by real property subject to the minerals production tax of sections 298.24 to 298.28. M.S. 287.04(e)
- An agricultural mortgage if the proceeds of the loan secured by the mortgage are used to acquire or improve agricultural property. M.S. 287.04(I)
- Any form of a contract for deed is exempt from the MRT under M.S. 287.04(d)
- Any mortgage or other instrument that adds additional security for the same debt for which mortgage registry tax has been paid. M.S. 287.04(c)
- Any mortgage resulting from a decree of marriage dissolution(divorce decree) or an instrument made pursuant to it is exempt from the MRT under M.S. 287.04(a). This includes a "summary real estate disposition judgement" under M.S. 287.01, subd. 4.
- Any mortgage that corrects a mistake in an existing mortgage is exempt from the MRT under M.S. 287.04(b). (Corrective Mortgage)
View the Mortgage Registration Exemption Form (PDF).