Section 287.25 — Payment 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 […]
Section 287.28 — Refunds Or Redemption.
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 […]
Section 287.12 — Taxes, How Apportioned.
287.12 TAXES, HOW APPORTIONED. (a) All taxes paid to the county treasurer under the provisions of sections 287.01 to 287.12 must be apportioned, 97 percent to the general fund of the state, and three percent to the county revenue fund. (b) On or before the 20th day of each month the county treasurer shall determine […]
Section 287.13 — Violations; Civil Penalties.
287.13 VIOLATIONS; CIVIL PENALTIES. Subdivision 1. Failure to pay full amount. Any person liable for the tax imposed by section 287.035 who fails to pay the full amount of mortgage registry tax imposed under this chapter, unless the failure is shown to be due to reasonable cause, is liable for a civil penalty of $250 […]
Section 287.20 — Definitions.
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 […]
Section 287.21 — Imposition Of Tax; Determination Of Tax.
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 […]
Section 287.22 — Exemptions.
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, […]
Section 287.2205 — Tax-forfeited Land.
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 […]
Section 287.221 — New Residential Construction.
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 […]
Section 287.222 — Transfer To Obtain Financing.
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 […]