1998 Minnesota Statutes

     383B.80 Hennepin county deed and mortgage tax. 

    Subdivision 1.    Authority to impose; rate.  (a) The 
 governing body of Hennepin county may impose a mortgage registry 
 and deed tax. 

    (b) The rate of the mortgage registry tax equals one cent 
 for each $100 or fraction of the principal. 

    (c) The rate of the deed tax equals five cents for each 
 $500 or fraction of the amount. 

    Subd. 2.    General law provisions apply.  The taxes 
 under this section apply to the same base and must be imposed, 
 collected, administered, and enforced in the same manner as 
 provided under chapter 287 for the state mortgage registry and 
 deed taxes.  All the provisions of chapter 287 apply to these 
 taxes, except the rate is as specified in subdivision 1, the 
 term "Hennepin county" must be substituted for the "state," and 
 the revenue must be deposited as provided in subdivision 3. 

    Subd. 3.    Deposit of revenues.  All revenues from the 
 tax are for the use of the Hennepin county board of 
 commissioners and must be deposited in the county's 
 environmental response fund under section 383B.81. 

    Subd. 4.    Expiration.  The authority to impose the tax 
 under this section expires January 1, 2003. 

    HIST: 1997 c 231 art 16 s 15