The provision that allowed Hennepin and Ramsey counties to collect additional State Deed Tax and Mortgage Registration Tax expired on January 1, 2008. There was a provision to continue the increased rates proposed last year which was vetoed by Governor Tim Pawlenty. Hurray for the Governor!!!
The result: Hennepin and Ramsey counties are now in sync with the rest of Minnesota counties in charging $3.30/1,000 for State Deed Tax and $2.30/1,000 for Mortgage Registration Tax.
Don’t be surprised when they try to reinstate it sometime in the future, but for now, home owners can save some additional money when they go to sell their home in 2008.