1997 Minnesota Statutes

     287.21 Imposition of tax; determination of tax. 

    Subdivision 1.  There is hereby imposed on each deed, 
 instrument, or writing by which any lands, tenements, or other 
 realty in this state shall be granted, assigned, transferred or 
 otherwise conveyed, a tax determined in the following manner.  
 When transfers are made by instruments pursuant to mergers, 
 consolidations, sales or transfers of substantially all of the 
 assets of corporations pursuant to plans of reorganization or 
 there is no consideration or when the consideration, exclusive 
 of the value of any lien or encumbrance remaining thereon at the 
 time of sale, is $500 or less, the tax shall be $1.65.  When the 
 consideration, exclusive of the value of any lien or encumbrance 
 remaining thereon at the time of sale, exceeds $500, the tax 
 shall be $1.65 plus $1.65 for each additional $500 or fraction 
 of that amount. 

    The tax applies against the total consideration, including 
 the fair market value consideration for any personal property 
 located on the real property conveyed by the deed and 
 transferred as part of the total consideration, but excluding 
 the value of any lien or encumbrance remaining on the property 
 at the time of sale. 

    Subd. 2.  The proceeds of the taxes levied and collected 
 under sections 287.21 to 287.36 shall be apportioned, 97 percent 
 to the general fund of the state, and three percent to the 
 county revenue fund.  

    Subd. 3.  Expired 

    Subd. 4.    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, persons who 
 repurchase tax-forfeited land, or state agencies and local units 
 of government that acquire tax-forfeited land by purchase or any 
 other means. 

    HIST: 1961 c 647 s 1; Ex1967 c 32 art 11 s 1; 1969 c 399 s 24; 
 1973 c 118 s 1; 1Sp1985 c 14 art 11 s 5; 1987 c 268 art 14 s 15; 
 1987 c 403 art 2 s 149; 1988 c 719 art 19 s 13; 1990 c 480 art 7 
 s 23; 1993 c 375 art 3 s 39