For transactions in Florida, there is an excise tax imposed on certain documents, including:
- Documents that transfer an interest in Florida real property, such as deeds; and
- Mortgages and written obligations to pay money, such as promissory notes.
In all counties except Miami-Dade, the tax rate per the Documentary Stamp Tax is 70 cents on each $100 or portion thereof, of the total consideration. [Section 201.02(1)(a), Florida Statutes (F.S.)]
In Miami-Dade County, the rate is 60 cents on each $100 or portion thereof, of the total consideration. Miami-Dade County also has a surtax of 45 cents on each $100 or portion thereof, of the total consideration. Note: the surtax is not due on a document that transfers only a single-family dwelling. [Section 201.031, F.S.]
When using LodeStar to quote transactions in Florida, deed tax will be included. By default, LodeStar will automatically check the question, "Buyer to pay seller Deed Tax?" and the deed tax will be quoted on the buyer's side. Users have the ability to uncheck this box if the seller is paying the deed tax and it will move it on the seller's side::
Once you select who will be paying the deed tax, you can find the fee listed in Section E. Click on Section E in the Closing Cost Details Screen, to see a breakdown of the section.
If the buyer pays the deed tax, the fee will appear in Section E as follows:
If the seller pays the deed tax, the fee will be omitted from Section E:
For more information, please consult the Florida Department of Revenue.