closing

Documentary Stamp Tax (Florida)

Florida's tax on transaction documents rather than a general transfer tax. Deeds are taxed at $0.70 per $100 or fraction of total consideration, including assumed mortgages, customarily paid by the seller; Miami-Dade uses $0.60, plus a $0.45 surtax on property other than single-family residences. New notes and mortgages are taxed at $0.35 per $100, and a separate nonrecurring intangible tax of 2 mills applies to new mortgages; both are customarily paid by the buyer. Doc stamps round up; intangible tax does not.