Florida Deed, Mortgage and Intangible Tax Estimate
Estimate Florida purchase taxes using full deed consideration, the new loan and Florida collateral value, with a typical closing-cost allocation.
What This Calculator Does
Estimate three taxes for an ordinary taxable Florida purchase and a new recorded mortgage secured solely by Florida real property. Keep deed consideration, the full new loan and the property's fair market value separate. The results are a component-rounded cash estimate, not a tax filing, exemption decision or complete closing statement.
Who Is This For
Florida buyers, sellers and real-estate professionals checking a purchase-tax budget against the contract, loan documents and valuation information. Confirm the transaction's legal classification and actual charges with the closing agent or appropriate tax professional.
How It Works
Enter the full taxable purchase consideration, including financing, without adding the loan again. Enter the full new loan or explicit 0 for cash; an unknown loan is not 0. With a positive loan, supply the Florida property's fair market value separately rather than assuming it equals the price. Choose Miami-Dade or another Florida county and, in Miami-Dade, explicitly confirm whether the legal single-residence surtax exception applies. Confirm the ordinary-purchase/sole-Florida-security scope, compare each tax and the typical payment allocation, and verify the final closing figures.
Frequently Asked Questions
Which amounts do the three taxes use?
Deed stamps use the full taxable consideration for the purchase, which already includes financing. Do not add the new loan to it again. Mortgage/note stamps use the full new loan face amount. The nonrecurring intangible tax uses the smaller of that loan and the separately provided fair market value of the Florida property given as security. These are distinct bases. The total adds the displayed tax components; it is not the property's price or all closing costs.
What changes for cash, and is the mortgage stamp capped at $2,450?
An explicitly entered loan of 0 is a cash scenario: note stamps and intangible tax are 0, while deed stamps still apply. Unknown or blank financing must not be treated as cash. In this model, a new recorded mortgage secured by Florida real property uses $0.35 per $100 of the full loan or any fraction, without a $2,450 cap. The separate cap for obligations not secured by a mortgage on Florida real property is outside scope, as are refinancing, renewals and prior-tax credits.
Why is Florida collateral value separate from the purchase price?
The fair market value of the property securing the obligation can differ from its contract price. The intangible base is limited by that supplied Florida value, not automatically by price; the rate is two mills, or 0.002. A $151,250 loan secured solely by Florida property worth $150,000 gives a $300 intangible estimate, while full-loan note stamps remain $529.55. If the supplied value is $200,000, the intangible estimate is $302.50 even with the same $150,000 consideration. Other-property security and apportionment are not modeled.
Can one condominium residence qualify for Miami-Dade's surtax exception?
Yes, the legal single-residence exception is not limited to detached architecture: it includes a qualifying single condominium or cooperative residence as well as a qualifying detached residence. It is not an automatic exemption for every condo transaction. Miami-Dade deed stamps are $0.60 per $100 or fraction for the qualifying class, and $1.05 for a nonqualifying conveyance such as multiple residences, land or nonresidential property. Other Florida counties use $0.70. Confirm the legal conveyance class; the calculator does not classify it from a building label.
How do the $100 units and cent estimate differ?
Deed consideration and full loan face each round up separately to a whole $100 taxable unit. A genuine cent above $100 adds another unit; it is not removed before calculation. Intangible tax instead uses its exact cent base, without $100 unit rounding. For the displayed cash estimate, each component is rounded to the nearest cent, half-cent upward, before summing. That model convention is not a new legal rounding mandate or a confirmed settlement bill. Each amount input is limited to $2 billion; the $40 million bound covers modeled tax/cash totals, not the collateral-base trace or a legal tax cap.
Do the seller and buyer rows determine who legally owes the taxes?
No. Seller-paid deed stamps and buyer-paid loan taxes are typical budgeting allocations, not a determination of statutory liability. A purchase contract can allocate payment differently without rewriting the law. The lender is liable for the nonrecurring intangible tax and may pass its cost to the borrower. Verify responsibility and the actual closing statement with the appropriate professionals. This estimate does not decide exemptions or cover gifts, exempt transfers, refinancing, renewal credits, mixed-collateral apportionment, underwriting or tax filing.