Documentary Stamp Tax
Documentary stamp tax is a Florida transfer tax charged on deeds and on new mortgages when property changes hands or is financed.
What Documentary Stamp Tax means
On deeds the rate is $0.70 per $100 of price in most counties, and on mortgages it is $0.35 per $100 of the loan, plus intangible tax. These taxes are a notable Florida closing cost. Who pays which is set by contract and custom.
Florida example
On a $300,000 Tampa purchase, the deed documentary stamp tax was about $2,100, and the mortgage stamp tax on the loan added several hundred more at closing.
What it is
The documentary stamp tax is a Florida tax on deeds and loan documents. It applies when property changes hands or a mortgage is recorded.
It is a standard part of closing costs here.
Why it matters
This tax adds to your cash to close, so it pays to plan for it. Rates are set by the state.
We build Florida taxes into your estimate. Apply now and we will show your true closing costs.
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Verify the details for your own situation against these government and agency sources: CFPB Owning a Home guide and HUD homebuyer resources.