Mortgage Registration Tax

Overview

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)