Palm Beach County Doc Stamps & Intangible Tax 101

Sticker shock at closing can be real. In Boca Raton, two Florida state taxes often drive that feeling: documentary stamp tax and the nonrecurring intangible tax. If you understand what they are, who usually pays, and how to estimate them, you can plan your cash to close with confidence. In this guide, you will learn the rates, rounding rules, local customs, and simple math you can use before you sign. Let’s dive in.

Doc stamps and intangible tax, defined

Documentary stamp tax is a Florida excise tax on certain documents, mainly deeds that transfer real property and written obligations to pay money such as promissory notes. You can review the state’s plain‑English overview on the Florida Department of Revenue’s documentary stamp tax page. See the official guidance.

The nonrecurring intangible tax is a separate, one‑time tax on obligations secured by Florida real property. In closings, this is the tax associated with a mortgage or deed of trust. The rate is 2 mills, which equals $2 per $1,000 of the secured amount. Learn more from the Department of Revenue.

Current rates in Palm Beach County

• Deed transfers in Palm Beach County: $0.70 per $100 of consideration. Consideration includes the money paid and any mortgages or liens you assume. See Fla. Stat. 201.02.
• Promissory notes and many written obligations: $0.35 per $100 of the indebtedness. Florida law places a $2,450 cap on documentary stamps for certain promissory notes. Recorded mortgages are treated separately. See Section 201.08.
• Recorded mortgage instruments: documentary stamp tax also applies at $0.35 per $100 of the principal amount shown in the instrument. The statute distinguishes mortgages from notes, including on caps for very large loans. Review the statute language.
• Nonrecurring intangible tax on mortgages: 0.002 of the secured amount. Rate confirmation and examples.

Rounding rule: Florida computes these taxes by $100 “units.” Any fractional part of $100 counts as a full $100 for the calculation. The Department of Revenue explains the rounding.

Note on counties: Palm Beach County follows the state rate. Miami‑Dade has special deed rules, so do not use Miami‑Dade figures for Boca Raton. Check the Department’s guidance.

Who typically pays in Boca Raton

Local custom in Palm Beach County is simple, though you should always confirm your contract and closing statement:

• Seller customarily pays the documentary stamp tax on the deed.
• Buyer or borrower typically pays loan‑related items, which often include the documentary stamp tax on the note and the intangible tax on the mortgage.

These are customs, not laws. Your contract controls. See a local overview of market norms.

When and how these taxes are paid

Most of the time, the title or closing agent collects the funds at closing and pays them when the document is recorded with the Palm Beach County Clerk. If a taxable document is not recorded within the required time, the tax must be remitted to the Florida Department of Revenue as an unrecorded document. Department of Revenue payment basics.

For Boca Raton transactions, the Palm Beach County Clerk’s fee schedule confirms the state rates and provides recording fees and a calculator used by closing agents. See the Clerk’s recording fees and calculator.

How to calculate: quick examples

Here are rounded examples you can use for ballpark planning. Always verify with your title company.

• Deed tax on a $500,000 sale price: 500,000 ÷ 100 = 5,000 units × $0.70 = $3,500. Rate source
• Deed tax on a $1,250,000 sale price: 1,250,000 ÷ 100 = 12,500 units × $0.70 = $8,750. Rate source
• Deed tax with rounding on $850,250: 850,250 ÷ 100 = 8,502.5, round up to 8,503 units × $0.70 = $5,952.10. Rounding rule
• Loan example on a $400,000 mortgage: note documentary stamps $1,400 (400,000 ÷ 100 = 4,000 × $0.35) plus intangible tax $800 (400,000 × 0.002) equals $2,200 in loan‑related state taxes. Details on note tax and intangible tax

Practical tip: If the buyer assumes the seller’s mortgage, that assumed debt usually counts as part of the deed’s consideration. This can increase deed doc stamps compared with using the sale price alone. See the statute on consideration.

Another tip: If your contract price includes personal property, those amounts can be treated as consideration unless the contract allocates specific values. Ask your agent and closing attorney to itemize personal property so you do not pay deed doc stamps on furniture or other items. Statutory guidance.

Special cases, exemptions, and refunds

Florida law provides exemptions for certain transfers such as some spousal or divorce‑related deeds, certain government transactions, and probate‑related transfers. There are also limited refund paths if you qualify under the statutes. The details are very fact specific. Review the Department of Revenue’s guidance and consult your closing professional for your situation. Start with the Department’s overview.

If a single loan is secured by properties in more than one state, Florida’s rules allow you to prorate the intangible tax to the Florida portion. The Department provides examples that show how to apportion the tax base. See intangible tax rules and examples.

Quick closing checklist for Boca buyers and sellers

• Confirm who pays which tax in your contract before you sign.
• Ask your title company for a draft settlement statement to review taxes and recording fees.
• If your loan is large or complex, confirm whether any statutory caps or special rules apply to your documents.
• If personal property is included, itemize it in the contract.
• Keep copies of invoices and the recorded documents for your records.

Ready to plan your closing costs with clarity and care? For concierge guidance backed by attorney‑level expertise, connect with Debra P. Rochlin, PA.. You will get straight answers, precise numbers, and a smooth path to the finish line.

FAQs

What are Florida doc stamps in a Boca Raton home sale?

• Documentary stamp tax is a state excise tax on deeds and certain financial documents, calculated per $100 of consideration, and it applies in Palm Beach County at $0.70 per $100. Learn more

Who usually pays doc stamps and intangible tax in Palm Beach County?

• It is customary for the seller to pay deed doc stamps and for the buyer or borrower to pay loan‑related doc stamps and the intangible tax, but the contract controls. Local custom overview

When are these taxes due for a Boca Raton closing?

• They are typically collected at closing and paid at recordation with the Palm Beach County Clerk; unrecorded documents must be remitted directly to the Florida Department of Revenue. Payment basics

What is the intangible tax rate on Florida mortgages?

• The nonrecurring intangible tax is 0.002 of the secured amount, often shown as $2 per $1,000. Rate and examples

How does rounding affect my deed tax in Palm Beach County?

• Florida rounds up to the next $100 unit, so any fractional $100 increases the taxable units used to compute the deed doc stamps. Rounding explained

Are there caps on loan‑related documentary stamps?

• Documentary stamps on certain promissory notes have a statutory cap of $2,450, while recorded mortgages are treated separately under the statute. Always confirm instrument type for large loans. See Section 201.08