Which statement best describes Florida's rule on deed documentary stamps statewide versus Miami-Dade rules?
Correct Answer
A) In Miami-Dade County, the base deed documentary stamp rate is 60 cents per $100, with a surtax that generally does not apply when the document transfers only a single-family dwelling.
In Miami-Dade County, the base deed documentary stamp rate is 60 cents per $100, with a surtax that generally does not apply when the document transfers only a single-family dwelling. This follows F.S. §§ 201.02, 201.031, 201.08; Florida Dept. of Revenue documentary stamp tax guidance; Florida Dept. of Revenue nonrecurring intangible tax guidance.
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Previous Question
A deed in Broward County transfers property for $50,000 cash, and the grantee takes the property subject to an existing mortgage balance of $75,000 that counts as consideration. What documentary stamp tax is due on the deed?
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A deed in a Florida county other than Miami-Dade recites nominal consideration of $10 and no exemption applies. Because the tax is computed on each $100 or fraction thereof, what documentary stamp tax is due?