Doc Stamps And Intangible Tax: Closing Costs On Amelia

Sticker shock at closing often comes from two quiet line items: Florida’s documentary stamp tax and the nonrecurring intangible tax. If you are buying or selling on Amelia Island or in Fernandina Beach, understanding these taxes helps you plan your net proceeds and cash to close. In this guide, you will learn what each tax is, how to calculate them in Nassau County, who typically pays, and how rounding can change the total. Let’s dive in.

Doc stamps and intangible tax explained

Florida’s documentary stamp tax applies to deeds that transfer real property and to written obligations to pay money, such as notes and mortgages. The tax on deeds is based on the consideration for the transfer. The tax on mortgages is based on the loan amount. You can review the state overview on the Florida Department of Revenue’s documentary stamp page for the governing rules and examples of taxable instruments. Florida Department of Revenue documentary stamp tax

The nonrecurring intangible tax is a one-time state tax on obligations to pay money that are secured by a mortgage, deed of trust, or other lien on Florida real property. It is separate from documentary stamps on the mortgage. See the state’s overview for definitions and calculation examples. Florida Department of Revenue nonrecurring intangible tax

Current Nassau County rates

• Deed documentary stamps: $0.70 per $100 of consideration in Nassau County. Nassau County Clerk fee schedule
• Mortgage documentary stamps: $0.35 per $100 of the indebtedness secured. Florida Department of Revenue documentary stamp tax
• Nonrecurring intangible tax: 2 mills, which equals $2.00 per $1,000 of the secured obligation. Florida Statutes §199.133

Nassau County follows statewide rounding rules when computing documentary stamps. Amounts are generally rounded up to the next highest $100 before applying the per-$100 rate. Intangible tax is typically computed on the exact loan amount, without $100 rounding. Confirm current rounding language and any local fees directly with the Nassau County Clerk. Nassau County Clerk fee schedule

Who pays what at closing

By law, all parties to a taxable document are liable for documentary stamp tax. Allocation is typically set by the contract. In everyday Nassau County practice, sellers often pay doc stamps on the deed and buyers pay mortgage doc stamps and the intangible tax when financing the purchase. This is negotiable, so always check your signed contract. Florida Department of Revenue documentary stamp tax

When and how these taxes are paid

If a deed or mortgage is recorded, the Nassau County Clerk collects documentary stamps and the intangible tax at recording and notes payment on the document. If a taxable instrument is not recorded, the taxpayer must report and pay the Florida Department of Revenue directly using the appropriate forms. Intangible tax is generally due at recording of the mortgage or within 30 days of creation if not recorded. Florida Department of Revenue documentary stamp tax

Local recording charges also apply in Nassau County. The Clerk’s current schedule lists $10 for the first page and $8.50 for each additional page, plus indexing and copy fees. Nassau County Clerk fee schedule

Real numbers: Amelia and Fernandina examples

Below are illustrative examples based on Nassau County’s statewide rates. Your title or closing agent will prepare the final Closing Disclosure with all fees.

Example 1: $400,000 price with financing

• Sales price: $400,000
  • Deed doc stamps: 400,000 × 0.007 = $2,800.00
• Mortgage: $320,000
  • Mortgage doc stamps: 320,000 × 0.0035 = $1,120.00
  • Intangible tax: 320,000 × 0.002 = $640.00
• Typical tax totals: seller ≈ $2,800; buyer ≈ $1,760, plus recording fees. Florida Department of Revenue documentary stamp tax Nassau County Clerk fee schedule

Example 2: Rounding can move the needle

• Sales price: $850,250 → rounds up to $850,300 for deed doc stamps
  • Deed doc stamps: 8,503 units × $0.70 = $5,952.10
• Mortgage: $680,200 → rounds up to $680,300 for mortgage doc stamps
  • Mortgage doc stamps: 6,803 units × $0.35 = $2,381.05
  • Intangible tax: 680,200 × 0.002 = $1,360.40
• Buyer mortgage tax total: ≈ $3,741.45. Rounding guidance is commonly presented by clerks across Florida. Citrus County Clerk fee guide reference for rounding

Example 3: Cash purchase

• Sales price: $2,000,000; no mortgage
  • Deed doc stamps: 2,000,000 × 0.007 = $14,000. No mortgage doc stamps or intangible tax apply without a loan. Florida Department of Revenue documentary stamp tax

Example 4: High-end, 60 percent financed

• Sales price: $5,250,500 → rounds up to $5,250,600 for deed doc stamps
  • Deed doc stamps: 52,506 units × $0.70 = $36,754.20
• Mortgage: $3,150,300 (60 percent LTV)
  • Mortgage doc stamps: 31,503 units × $0.35 = $11,026.05
  • Intangible tax: 3,150,300 × 0.002 = $6,300.60

Exemptions and special cases

Some transfers are exempt under Florida law. Examples include certain deeds between spouses or transfers incident to a dissolution of marriage, and specific nonprofit-to-government or conservation transfers. Whether an exemption applies depends on the facts and the statute, so flag potential exemptions early with your title team. Florida Statutes §201.02

Also note that consideration for deed tax can include more than the cash price. Assumption of an existing mortgage or other encumbrances can be part of the taxable base. For mortgages and notes, different instruments may have distinct rules, and recorded mortgages do not have a statutory cap on documentary stamps. Florida Statutes §201.02 Florida Statutes §201.08

Penalties for late or underpayment

If taxes are not paid on time, penalties and interest can apply. In some cases, a mortgage may not be recorded or enforceable until tax is paid and noted. Your title or settlement agent will coordinate proper collection and filing, but it is wise to review your Closing Disclosure carefully. Florida Department of Revenue documentary stamp tax

Quick checklist for buyers and sellers

• Confirm who pays what in your contract. Typical custom is seller pays deed stamps and buyer pays mortgage stamps plus intangible tax.
• Ask your title or settlement agent for an early, itemized estimate. Request separate lines for deed doc stamps, mortgage doc stamps, intangible tax, and Nassau County recording fees. Nassau County Clerk fee schedule
• Watch rounding. Non-hundred prices and loan amounts are rounded up for doc stamps, which can add hundreds or thousands at higher price points.
• Verify the loan amount used for tax. Mixed collateral or apportionment can change the intangible tax and mortgage stamps. Florida Department of Revenue nonrecurring intangible tax
• Raise potential exemptions early. Proper documentation helps avoid overpayment and supports refunds where allowed. Florida Statutes §201.02

Plan your Amelia closing with confidence

Clear numbers reduce surprises. If you are weighing price, financing, or timing on Amelia Island or in Fernandina Beach, a focused strategy around doc stamps and intangible tax can protect your net and keep your timeline smooth. For concierge-level guidance that blends CPA-caliber analysis with local closing expertise, connect with Trusha Shah.

FAQs

What are Florida doc stamps in a Fernandina Beach home sale?

• They are state excise taxes on deeds and on written obligations like mortgages, calculated on the consideration for the deed and the loan amount for the mortgage. Florida Department of Revenue documentary stamp tax

Who typically pays deed doc stamps in Nassau County closings?

• It is negotiable in the contract, but it is common for sellers to pay deed stamps while buyers pay mortgage stamps and the intangible tax.

How do you calculate the Florida intangible tax on a mortgage in Amelia Island?

• Multiply the secured loan amount by 0.002, which equals $2.00 for every $1,000 borrowed, using the exact loan amount without $100 rounding. Florida Statutes §199.133

Are cash buyers on Amelia Island charged the intangible tax?

• No, the intangible tax applies only when there is an obligation secured by a mortgage, deed of trust, or lien on Florida real property. Florida Department of Revenue nonrecurring intangible tax

Do Miami-Dade deed tax rates apply in Nassau County closings?

• No, Nassau County uses the statewide rates of $0.70 per $100 for deeds and $0.35 per $100 for mortgages; Miami-Dade has different deed rates and a surtax. Florida Department of Revenue documentary stamp tax

When are doc stamps and intangible tax collected in Fernandina Beach?

• They are generally collected by the Nassau County Clerk at recording, and if not recorded, they must be reported and paid to the Florida Department of Revenue. Nassau County Clerk fee schedule Florida Department of Revenue documentary stamp tax