Closing Procedures CalculationsTransfer_taxMEDIUM
A buyer takes a $250,000 mortgage in Florida. What is the intangible tax?
Correct Answer
B) $500
Intangible tax: $250,000 × 0.002 (2 mills) = $500.
Answer Options
A
$250B
$500C
$750D
$1,000Video Explanation3 min
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Related Topics & Key Terms
Related Topics:
florida-closing-costsmortgage-calculation-mathreal-estate-taxes-by-state
Key Terms:
Florida intangible tax2 millsmortgage taxclosing costsFlorida Statutes 199.133
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