Notes

State Transfer Taxes
In Florida, when ownership of property is transferred, three state taxes apply:
Documentary stamp tax on deeds

Documentary stamp tax on notes

Intangible tax on mortgages

Documentary Stamp Tax on Deeds
The documentary stamp tax on the deed must be paid before the deed can be recorded. Because a seller is required by law to deliver a recordable deed, it is the seller's obligation to pay this tax, although the parties can negotiate so that the buyer assumes all or part of the obligation.

This tax is assessed at .007 x purchase price or .006 if the property is located in Miami Dade County. This tax is only assessed once (at closing).

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If the sales price is not an even $100, the sales price must be rounded up to the nearest $100. For example, sales price is $80,250 then you round up to $80,300 and then multiply by .007.
Documentary Stamp Tax on Notes
The state also requires a documentary stamp tax on all new and assumed mortgage notes (as well as other types of notes). If a buyer is assuming a mortgage note, he or she pays tax on the unpaid balance.

This tax is assessed at .0035 x note balance. Also note that if the note balance is not an even hundred, the note must be rounded up to the nearest $100. $85,310 would then be rounded to $85,400 and then multiplied by .0035 to get the tax owed.

Intangible Tax on Mortgages
Finally, an intangible tax must be paid before a mortgage is recorded. However, this is supposed to be a one-time tax per mortgage (not per purchase), so this tax does not apply to assumed mortgages that have already been recorded. It only applies to new mortgages. Legally, the lender has the obligation to pay this tax, but the borrower usually assumes responsibility.

This tax is assessed at .002 x note amount.