How do homebuyers calculate Florida Intangible Tax and Documentary Stamps

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What Realtors and Homebuyers Need to Know About Florida Doc Stamps and Intangible Tax

How do homebuyers calculate Florida Intangible Tax and Documentary Stamps?  Here’s what buyers and Realtors need to know about these important Florida closing costs.

Buying a home in Florida—whether using USDA, VA, FHA, or Conventional financing—means preparing for more than just inspections and closing dates. Two of the most frequently overlooked closing costs are Documentary Stamp Tax and Intangible Tax.

If you want more information about Florida USDA Loans,  be sure to download our FREE USDA Blueprint for Success. This educational resource is designed for homebuyers and realtors alike.

What are Florida Documentary Stamp Tax

The State of Florida assesses taxes on both the transfer of real property and mortgages. This means homebuyers must be prepared to pay additional state taxes when purchasing a home.

A portion of these taxes come from Florida's documentary stamp tax. According to the Florida Department of Revenue:

"Documentary stamp tax is an excise tax imposed on certain documents executed, delivered, or recorded in Florida. The most common examples are:

Documents that transfer an interest in Florida real property, such as deeds; and
Mortgages and written obligations to pay money, such as promissory notes.

Tax is paid to the Clerk of Court when the document is recorded. When a taxable document is not recorded, the tax must be paid directly to the Florida Department of Revenue.” (Section 201, Florida Statutes)

Deeds and Other Documents that Transfer an Interest in Florida Real Property

In simple terms, Florida taxes are administered to cover the variety of recorded documentation needed when purchasing a home.

How Documentary Stamps Are Calculated

1. Documentary Stamps on the Deed (Transfer Tax)

This tax is calculated based on the purchase price of the property.

Most Florida counties:
$0.70 per $100 (or fraction thereof)

Miami-Dade County:

$0.60 per $100 for all property types

Extra surtax of $0.45 per $100, unless the home is a single-family residence

Florida requires rounding up to the next $100 increment.

2. Documentary Stamps on the Mortgage (Promissory Note)

A promissory note outlines the amount owed, interest rate, and repayment terms. This tax applies to the loan amount, not the sale price.

Rate: $0.35 per $100 (or fraction thereof)

Rounded up to the next $100

Florida Intangible Tax

Lastly, there is a one-time nonrecurring tax commonly referred to as the Florida Intangible Tax.

Florida’s one-time nonrecurring Intangible Tax applies only to mortgages and is based on the exact loan amount (no rounding).

Rate: 0.20%

Formula: Loan Amount × 0.002

For Home Equity Lines of Credit (HELOCs), the tax is based on the full line of credit, not the initial draw.

Calculating the Florida Intangible Tax

Florida Intangible Tax is calculated at 2 mills per each dollar of the just value of the note ($.002) secured by the mortgage. (§199.133, Fla. Stat.)

Please note that intangible tax on a home equity line of credit will be calculated on the full line amount, not just the amount advanced at closing.

Why These Fees Matter to Homebuyers and Realtors

They directly impact cash to close

Rounding rules can increase costs more than expected

Early preparation prevents delays, renegotiations, or missed closing dates

This is why working with an experienced lender who estimates these costs early is critical!

Work With Florida’s #1 Ranked USDA Lender

Metroplex Mortgage Services is officially recognized by USDA Rural Development as the:

#1 Ranked USDA Lender in Florida
2017 • 2023 • 2024 • 2025

As a USDA-approved lender we work directly with you to calculate closing costs accurately from the start, helping protect homebuyers and Realtors with on-time closings and proven results.

Have questions about closing costs or want to take advantage of a free second opinion? We’re here to help.

Just call or email to discuss your scenario and let us show you the “Metroplex” difference!

📞 Call/Text: 863-593-2001
🏢 Office: 800-806-9836 Ext. 280
📧 Email: [email protected]

Also, find out more about Florida USDA Loans by downloading our USDA Blueprint for Success with the link below

http://www.USDALoanPro.com
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