Florida's documentary stamp tax is a state tax on documents that transfer real estate or create a debt, paid to the county clerk when the document is recorded. A home purchase with a mortgage triggers it twice, once on the deed and once on the promissory note. Florida adds a third tax on the mortgage, the nonrecurring intangible tax, and all three show on the Closing Disclosure under taxes and other government fees.
Florida's three rates
| Tax | Rate | Based on |
|---|---|---|
| Doc stamps on the deed | 70 cents per $100 (60 cents in Miami-Dade on a single-family home) | Sales price |
| Doc stamps on the note | 35 cents per $100 | Loan amount |
| Nonrecurring intangible tax | 0.2% (2 mills) | Loan amount |
Doc stamps are charged on each $100 or part of $100, so the amount rounds up to the next $100 before the rate applies. The intangible tax is a straight percentage with no rounding.
A $300,000 FHA purchase
A buyer purchases a $300,000 home outside Miami-Dade with 3.5% down. The base FHA loan is $289,500, and with the 1.75% upfront mortgage insurance premium of $5,066.25 financed, the note is for $294,566.25. The doc stamps and intangible tax are figured on that full note amount.
| Item | Math | Tax |
|---|---|---|
| Deed stamps (seller under most contracts) | 3,000 × $0.70 | $2,100.00 |
| Note stamps | $294,566.25 rounds up to $294,600; 2,946 × $0.35 | $1,031.10 |
| Intangible tax | $294,566.25 × 0.002 | $589.13 |
The buyer's share is $1,031.10 + $589.13 = $1,620.23. On the same single-family sale in Miami-Dade, the seller's deed tax would be 3,000 × $0.60 = $1,800.
Who pays and how to cover it
The purchase contract assigns these taxes. Under most Florida contracts, the seller pays the deed stamps and the buyer pays the note stamps and the intangible tax. The buyer's share counts as a closing cost, so a seller credit can pay it: up to 6% of the price on FHA and USDA, 3% to 9% on Conventional depending on the down payment, and VA lets the seller pay a buyer's normal closing costs outright. A gift from family can cover it as well.
Enter your price and loan in the cash to close calculator, which builds Florida's taxes on the note into its closing cost estimate. For a line-by-line figure on a specific home, call AAA Capital Funding at 888-601-8344.