287.20 DEFINITIONS. Subdivision 1. Words, terms, and phrases. Unless the language or context clearly indicates that a different meaning is intended, the following words, terms, and phrases, for the purposes of sections 287.21 to 287.31, have the meanings given to them in this section. Subd. 2. Consideration. (a) “Consideration” means generally the total monetary value […]
287.21 IMPOSITION OF TAX; DETERMINATION OF TAX. Subdivision 1. Determination of tax. (a) A tax is imposed on each deed or instrument by which any real property in this state is granted, assigned, transferred, or otherwise conveyed. The tax applies against the net consideration. For purposes of the tax, the conversion of a corporation to […]
287.22 EXEMPTIONS. The tax imposed by section 287.21 does not apply to: (1) an executory contract for the sale of real property under which the purchaser is entitled to or does take possession of the real property, or any assignment or cancellation of the contract; (2) a mortgage or an amendment, assignment, extension, partial release, […]
287.2205 TAX-FORFEITED LAND. Before a state deed for tax-forfeited land may be issued, the deed tax must be paid by the purchaser of tax-forfeited land whether the purchase is the result of a public auction or private sale or a repurchase of tax-forfeited land. State agencies and local units of government that acquire tax-forfeited land […]
287.221 NEW RESIDENTIAL CONSTRUCTION. The commissioner of revenue may not enforce a deed tax assessment on the consideration paid for an improvement in the case of new residential construction if, at or before the time the first residential owners of the improvement take possession, the deed tax has been paid on the consideration paid for […]
287.222 TRANSFER TO OBTAIN FINANCING. The deed tax is $1.65 on a deed or other instrument that transfers real property if the transfer is (1) to a person who is a builder or contractor, (2) intended to be temporary, and (3) done solely to enable the builder or contractor to obtain financing to build an […]
287.223 HENNEPIN AND RAMSEY COUNTIES. For properties located in Hennepin and Ramsey Counties, the county may impose an additional deed tax as defined in sections 383A.80 and 383B.80. History: 2013 c 143 art 4 s 27
287.23 REAL PROPERTY OUTSIDE COUNTY OR STATE. Subdivision 1. Real property outside county. If any taxable deed or instrument describes any real property located in more than one county in this state, the total tax must be paid to the treasurer of the county where the document is first presented for recording, and the payment […]
287.24 PERSONS LIABLE. Subdivision 1. General rule. Any person who grants, assigns, transfers, or conveys any real property by a deed or instrument subject to the tax imposed by section 287.21 shall be liable for such tax but no public official shall be liable for a tax with respect to any instrument executed by the […]
287.241 STATEMENT OF TAX DUE OR EXEMPTION; RECORDING OR REGISTERING OF DOCUMENTS. Subdivision 1. Statement of tax due or exemption. No deed or instrument, taxable under the provisions of section 287.21, shall be recorded unless it contains the statement of the grantor or grantee, or any successor in interest, setting forth the amount of tax […]
287.25 PAYMENT OF TAX. Except for documents filed electronically, the tax imposed by section 287.21 must be paid in the manner prescribed by section 287.08 relating to payment of mortgage registration tax, and the treasurer must endorse a receipt for the tax on the face of the document or instrument. History: 1961 c 647 s […]
287.28 REFUNDS OR REDEMPTION. (a) The county treasurer may redeem stamps issued under the authority of sections 287.20 to 287.31 that have been spoiled, destroyed, or rendered useless or unfit for the purpose intended or for which the owner may have no use or which through mistake may have been improperly or unnecessarily used. Redemption […]
287.29 PAYMENT OF RECEIPTS TO STATE GENERAL FUND; REPORTS. Subdivision 1. Appointment and payment of tax proceeds. (a) The proceeds of the taxes levied and collected under sections 287.21 to 287.385 must be apportioned, 97 percent to the general fund of the state, and three percent to the county revenue fund. (b) On or before […]
287.30 COUNTY TREASURER; DUTIES. The duties imposed upon county treasurers by this chapter are within the duties of such office and are within the coverage of any official bond delivered to the state, conditioned that any such officer shall faithfully execute the duties of office. The county board may by resolution require the county auditor […]
287.31 VIOLATIONS; CIVIL PENALTIES. Subdivision 1. Failure to pay full amount. Any person liable for the tax imposed by section 287.21 who fails to pay the full amount of deed tax imposed under this chapter, unless the failure is shown to be due to reasonable cause, is liable to a civil penalty of $250, or […]
