Mortgage Registry Tax

Minnesota Statute 287.035 provides for mortgage registry tax to be paid on mortgages to be recorded. The rate is 0.0023 of the debt secured (Example: $105,250 X 23 = $242.08 mortgage registry tax). Mortgage registry tax is paid to the Clay County Treasurer with 3% retained by the county and 97% submitted monthly to the State of Minnesota. For further information about recording real estate documents please visit the Clay County Recorder's website.

Exemptions

For mortgages which are exempt from mortgage registry tax see Minnesota Statute 287.04. The Mortgage Registry Tax Exemption (MRT1) Form is available from the Minnesota Department of Revenue website. Additional mortgage tax information regarding mortgage amendment, additional security, and mortgage modification is also available online.