Minnesota Deed Registry Tax Update

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The Minnesota Department of Revenue recently announced a change to how Deed Taxes are calculated, effective for deeds recorded in Minnesota beginning January 1, 2020.

While the minimum deed tax amount remains $1.65 for non-exempt transactions, the threshold or minimum net consideration was increased from $500.00, to $3,000.00. See Minnesota Statute 287.21(b).

Connect with a professional Real Estate attorney at Barna, Guzy & Steffen in Coon Rapids, MN for all of your real property legal needs.

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