Florida Documentary Stamp Tax Calculator
Easily calculate the Florida documentary stamp tax on deeds and notes, and the intangible tax on mortgages for your real estate transaction.
Note Tax
Intangible Tax
Example Calculations
| Sale Price | Loan Amount | County | Deed Tax | Note Tax | Intangible | Total Tax |
|---|
What is the Florida Documentary Stamp Tax Calculator?
The Florida Documentary Stamp Tax Calculator is a tool designed to estimate the amount of documentary stamp tax due on real estate transactions and written obligations to pay money in Florida. This tax is levied by the state on various documents, most commonly deeds transferring property and promissory notes or mortgages securing loans.
When you buy, sell, or refinance property in Florida, or even take out certain types of loans, you’ll likely encounter these taxes. The Florida Documentary Stamp Tax Calculator helps you anticipate these costs.
Who Should Use It?
Anyone involved in a Florida real estate transaction or certain financial agreements should use a Florida Documentary Stamp Tax Calculator, including:
- Homebuyers
- Sellers
- Real estate agents and brokers
- Mortgage lenders and brokers
- Real estate attorneys and title companies
- Investors
Common Misconceptions
A common misconception is that the documentary stamp tax is only on the sale price. In reality, it applies separately to the deed (based on sale price) and to the promissory note/mortgage (based on the loan amount). Also, the rate for deeds differs in Miami-Dade County compared to the rest of Florida. Our Florida Documentary Stamp Tax Calculator accounts for this.
Florida Documentary Stamp Tax Calculator Formula and Mathematical Explanation
The Florida Documentary Stamp Tax Calculator uses the following formulas as prescribed by Florida statutes:
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Documentary Stamp Tax on Deeds (Conveyances):
- For all counties EXCEPT Miami-Dade: $0.70 per $100 (or fraction thereof) of the consideration (sale price).
- For Miami-Dade County: $0.60 per $100 (or fraction thereof) of the consideration. An additional surtax of $0.45 per $100 applies to documents conveying anything other than a single-family dwelling in Miami-Dade. Our calculator uses the $0.60 base rate for simplicity in Miami-Dade; consult a professional for non-single-family homes there.
- Calculation: Round the sale price UP to the nearest $100, divide by 100, then multiply by $0.70 or $0.60.
-
Documentary Stamp Tax on Notes (Written Obligations to Pay Money) and Mortgages:
- Rate: $0.35 per $100 (or fraction thereof) of the face amount of the note or mortgage. This applies to promissory notes, mortgages, and other written obligations to pay money.
- Calculation: Round the loan amount UP to the nearest $100, divide by 100, then multiply by $0.35.
-
Intangible Tax on Mortgages:
- Rate: 2 mills per dollar ($0.002) of the mortgage amount being recorded. This is levied on the privilege of recording a mortgage in Florida.
- Calculation: Multiply the loan amount by 0.002.
The Florida Documentary Stamp Tax Calculator adds these components to give you the total estimated tax.
Variables Table
| Variable | Meaning | Unit | Typical Range |
|---|---|---|---|
| Sale Price | Consideration for the property transfer | USD ($) | $50,000 – $10,000,000+ |
| County | Location of the property | County Name | Any Florida County |
| Loan Amount | Amount of the mortgage/note | USD ($) | $0 – $8,000,000+ |
| Deed Tax Rate | Rate per $100 for deeds | $/$100 | 0.70 or 0.60 |
| Note Tax Rate | Rate per $100 for notes | $/$100 | 0.35 |
| Intangible Tax Rate | Rate per $1 for intangible tax | $/$1 | 0.002 |
Practical Examples (Real-World Use Cases)
Example 1: Purchase in Orange County
Someone is buying a home in Orange County for $450,550 and getting a mortgage of $360,000.
- Sale Price: $450,550 (rounds up to $450,600 for deed tax)
- County: Orange (not Miami-Dade, so $0.70 rate)
- Loan Amount: $360,000 (rounds up to $360,000 for note tax)
Using the Florida Documentary Stamp Tax Calculator:
- Deed Tax: ($450,600 / 100) * $0.70 = $3,154.20
- Note Tax: ($360,000 / 100) * $0.35 = $1,260.00
- Intangible Tax: $360,000 * 0.002 = $720.00
- Total Taxes: $3,154.20 + $1,260.00 + $720.00 = $5,134.20
Example 2: Purchase in Miami-Dade County (Single Family)
Someone is buying a single-family home in Miami-Dade County for $600,000 with a $400,000 mortgage.
- Sale Price: $600,000 (rounds up to $600,000)
- County: Miami-Dade ($0.60 rate)
- Loan Amount: $400,000 (rounds up to $400,000)
Using the Florida Documentary Stamp Tax Calculator:
- Deed Tax: ($600,000 / 100) * $0.60 = $3,600.00
- Note Tax: ($400,000 / 100) * $0.35 = $1,400.00
- Intangible Tax: $400,000 * 0.002 = $800.00
- Total Taxes: $3,600.00 + $1,400.00 + $800.00 = $5,800.00
If this was not a single-family home in Miami-Dade, the surtax would also apply to the deed.
How to Use This Florida Documentary Stamp Tax Calculator
- Enter Sale Price: Input the total consideration or sale price of the property into the “Property Sale Price / Consideration” field.
- Select County: Choose the county where the property is located from the dropdown menu. This is important as Miami-Dade has a different deed tax rate.
- Enter Loan Amount: Input the amount of the new or assumed mortgage in the “Loan Amount” field. If there is no loan involved (e.g., a cash purchase), enter 0.
- View Results: The calculator automatically updates the “Doc Stamp on Deed,” “Doc Stamp on Note,” “Intangible Tax on Mortgage,” and “Total Taxes” in real-time.
- Review Chart and Table: The bar chart visualizes the tax components, and the table shows examples.
- Reset or Copy: Use the “Reset” button to clear inputs to default values or “Copy Results” to copy the key figures.
How to Read Results
The results section clearly shows the individual tax components and the total estimated taxes due. The “Total Taxes” is the primary result, representing the combined sum of deed tax, note tax, and intangible tax based on your inputs.
Decision-Making Guidance
Understanding these costs is crucial when budgeting for a real estate purchase or refinance. The Florida Documentary Stamp Tax Calculator helps you see how the sale price and loan amount directly impact your closing costs. For sellers, the deed tax is typically their responsibility, while buyers usually pay the taxes related to the mortgage. However, this can be negotiated. Check out our guide on Florida real estate closing costs for more detail.
Key Factors That Affect Florida Documentary Stamp Tax Results
- Sale Price/Consideration: The higher the sale price, the higher the documentary stamp tax on the deed.
- County of Property: Miami-Dade County has a lower base rate for deeds ($0.60 per $100) compared to all other counties ($0.70 per $100), but adds a surtax for non-single family dwellings.
- Loan Amount: The amount of the mortgage directly impacts the documentary stamp tax on the note and the intangible tax. Higher loan amounts mean higher taxes.
- Type of Property (in Miami-Dade): For properties in Miami-Dade, whether it’s a single-family dwelling or another type affects the deed tax due to the surtax on non-single-family properties.
- New vs. Assumed Mortgages: Doc stamps on notes apply to new mortgages and can also apply to assumed mortgages, depending on the circumstances. Intangible tax applies to the amount of the new mortgage recorded.
- Refinancing: When refinancing, you generally pay doc stamps and intangible tax on the amount of the NEW mortgage, though there might be exceptions if you are modifying an existing mortgage with the same lender under certain conditions. Learn more about Florida mortgage calculations.
Our Florida Documentary Stamp Tax Calculator considers the main factors of sale price, county, and loan amount.
Frequently Asked Questions (FAQ)
- Who pays the documentary stamp tax in Florida?
- Typically, the seller pays the documentary stamp tax on the deed, and the buyer pays the documentary stamp tax on the note and the intangible tax on the mortgage. However, this is negotiable and can be specified in the sales contract.
- Is the documentary stamp tax the same in all Florida counties?
- No. The documentary stamp tax rate on deeds is $0.70 per $100 in all counties except Miami-Dade, where it is $0.60 per $100 (plus a surtax for non-single-family dwellings). The rate on notes and the intangible tax rate are the same statewide. Our Florida Documentary Stamp Tax Calculator adjusts for Miami-Dade.
- Do I pay doc stamps when refinancing my mortgage?
- Yes, generally, when you refinance and take out a new mortgage, you will pay documentary stamp tax on the note and intangible tax on the new mortgage amount being recorded, even if it’s with the same lender, unless it’s a simple modification of an existing note under specific conditions.
- Is there a cap on the documentary stamp tax on notes in Florida?
- No, there is no maximum limit or cap on the amount of documentary stamp tax due on notes or mortgages in Florida. It is $0.35 per $100 or fraction thereof on the full loan amount.
- What about the intangible tax?
- The intangible tax is levied at a rate of 2 mills ($0.002) on the amount of the mortgage being recorded in Florida. It’s separate from the documentary stamp taxes but often paid at the same time at closing when a mortgage is involved.
- Are there any exemptions from the documentary stamp tax?
- Yes, there are some exemptions, such as transfers between spouses or to a wholly-owned entity under certain conditions, and for certain governmental entities. Consult the Florida Department of Revenue or a legal professional for specific exemption details.
- How accurate is this Florida Documentary Stamp Tax Calculator?
- This Florida Documentary Stamp Tax Calculator is designed to provide a very close estimate based on the standard rates and rounding rules. However, always confirm the exact amounts with your closing agent or attorney, especially for complex transactions or non-single-family homes in Miami-Dade due to the surtax.
- What is “consideration” for the deed tax?
- Consideration is generally the amount paid or to be paid for the property, including cash, the value of any property exchanged, and the amount of any mortgage or other lien being assumed by the buyer. See more in our real estate glossary.