Intangible Tax, Class "C", on Real Estate Mortgages
This tax must be paid before the Clerk and Comptroller can accept any mortgage for record, and applies only to mortgages, agreements or contracts for deed, deeds of trust or other liens pertaining to real property.
- Rate of 2 mills (.002) per dollar on the amount of the mortgage or the amount financed (i.e. $2.00 on mortgage of $1,000)
- Amount is computed to the nearest cent (i.e. $1.51 tax on $752.63)
State Documentary Tax Stamps
The proper amount of state tax stamps must be affixed to an instrument before it can be recorded. Space for Documentary Stamps and the Clerk and Comptroller's time stamp should be provided in the body of the instrument.
- Documentary Stamp Tax Rate (F.S. 201.02)
- .70 per $100 consideration applies to the full consideration; this includes existing mortgages. A minimum tax of .70 is required on deeds, except those that are exempt from documentary stamp tax by state or federal law.
- State stamps on Mortgages, Assumptions, Chattel Mortgages, Financing Statements, Security Agreements, Promissory Notes, Written Obligations to pay money (F.S. 201.08).
- Rate of Tax: .35 per $100, or fraction thereof, on the TOTAL amount of the note or obligation. However, on installment notes, tax is computed on the amount financed.
- On Agreements and Contracts for Deed, Conditional Bills of Sale, Title Contracts, etc., the stamps are computed at .35 per $100, or fraction thereof, on the UNPAID BALANCE remaining after down payment. However, no stamps are required on an Agreement for Deed if it has provision that the seller will look only to the land itself for payment on the balance of the purchase price.
- A deed transferring an interest in Florida real property between a couple, including when a spouse's name is added to a deed, is subject to documentary stamp tax. In most cases, the amount of tax is based on half of the amount of the unpaid balance of any mortgages. However, documentary stamp tax is not due if the marital home is transferred within a year of a divorce and the transfer occurs on or after July 1, 1997 .
- Stamps must be affixed to all instruments except Financing Statements. Documentary stamps on financing statements are paid directly to the Department of Revenue.
For more information on documentary stamp taxes, contact the Department of Revenue at:
Department of Revenue
1991 Main Street, Suite 240
Sarasota, FL 34236-5934