State Deed Tax is determined by multiplying the rate of deed tax ($3.30) for each $1,000 of Real Estate purchase price. For an example we'll use a purchase price of $200,000:
(200,000 x .0033) = $660 State Deed Tax due at the county auditor-treasurer's office at time of transfer of deed conveying Real Estate. For any purchase $500 or less the deed tax is the minimum, $1.65.
If a conveyance is exempt from paying the deed tax, the MN Statute governing the exemption must be noted on the conveyance document.
If the purchase price of the transfer of property is $500 or less the following verbiage must be present on the document to be recorded: "Total consideration for this transaction is $500 or less", and the minimum state deed tax of $1.65 is due unless exempt from paying state deed tax.
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