What most people would categorize as a "transfer tax" is labeled as a Documentary Stamp Tax in FL.
Documentary stamp tax is due on a mortgage or lien filed or recorded in Florida. The tax rate for mortgages is $. 35 per $100 (or portion thereof) and is based on the amount of the indebtedness or obligation secured, even if the indebtedness is contingent. For deeds, the rate is $.60 per $100 (or portion thereof) when the property is a single-family residence. They are paid to the county in which the property resides and it is a standard closing cost.
Who typically pays for Documentary Stamp Tax?
Seller pays for deed while buyer pays for mortgage stamp taxes.
Actual costs and division of costs can be different per transaction, but hopefully the aforementioned help in your planning.
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