The Florida Intangible Tax is a one-time nonrecurring tax imposed on obligations to pay money to the extent that the obligation is secured by a mortgage or lien on real property in Florida. This tax is paid at the time the mortgage is recorded, and, as such, is accounted for in Section E of the LodeStar Loan Estimate, alongside transfer and mortgage taxes.
This tax is calculated at 2 mills per each dollar of the note value secured by the mortgage. The calculation for a $200,000 loan amount would be as follows: $200,000 * .002 = $400. It should be noted that no rounding is applied during this calculation.
For more information on Nonrecurring Intangible Tax in the state of Florida, please consult the Florida Department of Revenue website.