Closing Costs in Florida: Doc Stamps & Intangible Tax Explained

Hate closing-cost math? You’re not alone. This guide breaks down Florida’s documentary stamp taxes (on deeds and notes) and the intangible tax (on mortgages)—with clear, classroom-ready examples and the key Miami-Dade caveat—so you can estimate costs with confidence (and without a calculator meltdown).

Why that matters

Because on exams and in real deals, you’ll be asked to ballpark transfer and loan taxes quickly. If you know the rates, the rounding rules, and how Miami-Dade differs, you’ll dodge errors and look rock-solid to clients.

Quick cheat sheet

• Deed Doc Stamps (transfer tax on the deed):
  
  • Most of Florida: $0.70 per $100 (or fraction) of price
  • Miami-Dade:
    
    • Single-family residence: $0.60 per $100 (or fraction)
    • All other property types (e.g., condo, duplex, mixed-use): $0.60 + $0.45 surtax = $1.05 per $100 (or fraction)
• Note (Promissory) Doc Stamps (on the loan): $0.35 per $100 (or fraction) of loan amount
• Intangible Tax (on the mortgage): 0.2% of loan amount (= 0.002 × loan)
• Rounding rule: For doc stamps (deed & note), round up to the next $100 before applying the rate. For intangible tax, no $100 rounding—use the exact loan amount.

“Per $100 or fraction thereof” = always round up the base to the next $100 even if you’re $1 over.

How to calculate (step-by-step)

A) Deed Doc Stamps

1. Base: Contract price (consideration).
2. Adjust for county/property:
   
   • Most counties: $0.70 per $100 (round up).
   • Miami-Dade SFR: $0.60 per $100 (round up).
   • Miami-Dade non-SFR: $1.05 per $100 (round up).
3. Compute: ceil(price ÷ 100) × rate.

B) Note Doc Stamps (on the loan)

1. Base: Loan amount.
2. Rate: $0.35 per $100 (round up).
3. Compute: ceil(loan ÷ 100) × 0.35.

C) Intangible Tax (on the mortgage)

1. Base: Loan amount.
2. Rate: 0.2% (0.002).
3. Compute: loan × 0.002 (no $100 rounding).

Worked examples

1) Broward County (not Miami-Dade)

Price: $350,250 | Loan: $280,000 | Property: SFR

• Deed doc stamps: ceil(350,250/100)=3,503 blocks → 3,503 × $0.70 = $2,452.10
• Note doc stamps: ceil(280,000/100)=2,800 blocks → 2,800 × $0.35 = $980.00
• Intangible tax: 0.002 × 280,000 = $560.00
  Total transfer/loan taxes: $3,992.10

2) Miami-Dade, Single-Family Residence

Price: $500,000 | Loan: $400,000

• Deed doc stamps: ceil(500,000/100)=5,000 → 5,000 × $0.60 = $3,000.00
• Miami-Dade surtax: $0 (SFR is exempt from the surtax)
• Note doc stamps: ceil(400,000/100)=4,000 → 4,000 × $0.35 = $1,400.00
• Intangible tax: 0.002 × 400,000 = $800.00
  Total: $5,200.00

3) Miami-Dade, Condo / Duplex / Non-SFR

Price: $500,000 | Loan: $400,000

• Deed doc stamps: 5,000 × $0.60 = $3,000.00
• Miami-Dade surtax: 5,000 × $0.45 = $2,250.00
• Note doc stamps: 4,000 × $0.35 = $1,400.00
• Intangible tax: 0.002 × 400,000 = $800.00
  Total: $7,450.00

Common pitfalls 

• Forgetting to round up doc stamps to the next $100. If it’s $350,001, you’re counting 3,501 blocks, not 3,500.
• Mixing up Miami-Dade rules. Only single-family residences get the $0.60 rate without the $0.45 surtax. Everything else in Miami-Dade gets the combined $1.05 rate.
• Applying $100 rounding to the intangible tax. Don’t—calculate it on the exact loan amount.
• Using assessed value instead of price (or misreading “consideration” on deed transfers). Use the actual consideration being transferred.

Practice problems

1. Hillsborough: Price $625,000; Loan $500,000; SFR.
2. Miami-Dade (condo): Price $385,250; Loan $300,000.
3. Palm Beach: Price $299,900; Loan $240,000; SFR.

Answer key:

1. Deed: ceil(625,000/100)=6,250 × $0.70 = $4,375.00 | Note: ceil(500,000/100)=5,000 × $0.35 = $1,750.00 | Intang: 0.002 × 500,000 = $1,000.00 → Total $7,125.00
2. Deed: ceil(385,250/100)=3,853 × $0.60 = $2,311.80 | Surtax: 3,853 × $0.45 = $1,733.85 | Note: ceil(300,000/100)=3,000 × $0.35 = $1,050.00 | Intang: 0.002 × 300,000 = $600.00 → Total $5,695.65
3. Deed: ceil(299,900/100)=2,999 × $0.70 = $2,099.30 | Note: ceil(240,000/100)=2,400 × $0.35 = $840.00 | Intang: 0.002 × 240,000 = $480.00 → Total $3,419.30

Final tips for exam day

• Rates to know: $0.70, $0.35, 0.002, and Miami-Dade’s $0.60 / $1.05.
• Write “round up to next $100” in the margin for any doc-stamp question.
• Intangible: no rounding—straight multiplication.

Want the math to finally click? Join our Florida Exam Prep. We’ll drill closing costs (and more) with simple walk-throughs, time-saving tricks, and test-day hacks. 

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