Mortgage Glossary
Documentary Stamp Tax
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
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.
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