"Doc stamps" show up on every Florida closing statement. Here's what they are and how they're calculated in our area.
Florida charges documentary stamp tax when a property changes hands. In Escambia and Santa Rosa County, the rate is $0.70 per $100 of the sale price. On a $300,000 home, that's $2,100, customarily paid by the seller.
If you're financing, there's a separate documentary stamp tax on the promissory note: $0.35 per $100 of the loan amount. On a $240,000 loan, that's $840.
Florida also charges an intangible tax on the mortgage — 2 mills, or $0.002 per dollar of the loan. On that same $240,000 loan, the intangible tax is $480.
Our doc stamp calculator adds these up for you in seconds. It's a quick way to see the tax side of your Pensacola-area closing before you get to the table.
Absolute Title of Florida is your local title & closing team in Pace, serving all of Northwest Florida.
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