Taxes Due At Your Home Closing
Whenever real estate is transferred in Florida, either by quit-claim deed, warranty deed, or a written obligation to pay (such as a mortgage) is filed, a Florida document tax must be paid to the County Clerk’s Office if the document is files, and directly to the Florida Department of Revenue if the document is not filed. The Florida home buyer will be assessed a Florida mortgage tax, which is typically $0.35 per every $100 of the home’s value. A Florida State Mortgage Intangible Tax may also be assessed at an average rate of $0.35 per every $100 of the home’s value. Taxable home value is calculated by using a fair market price estimate.
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