It is a state tax on the new promissory note: $0.35 per $100 of the loan. Florida also charges a nonrecurring intangible tax of $0.20 per $100 on the new mortgage. Both apply to the whole new loan, not just any cash out, unless a narrow renewal exemption applies.
Documentary stamp tax is a Florida excise tax on written promises to pay money. The rate on a note is $0.35 per $100, rounded up for any fraction. When a mortgage is recorded in Florida, the tax is due on the full amount secured.
The intangible tax is a one time tax of 2 mills ($2 per $1,000) on obligations secured by Florida real property, paid when the mortgage is recorded.
A standard refinance pays off the old loan and creates a new note and mortgage, so the taxes are charged on the entire new balance. A renewal note can be exempt under Florida Statutes section 201.09, but only if it meets strict conditions, so ask your title company before assuming it applies.
These taxes are part of your closing costs. When you compare a refinance, include them in the break even calculation.
Example taxes by new loan amount
| New loan amount | Doc stamps | Intangible tax | Total |
|---|---|---|---|
| $250,000 | $875 | $500 | $1,375 |
| $380,000 | $1,330 | $760 | $2,090 |
| $500,000 | $1,750 | $1,000 | $2,750 |
Made up loan amounts, rounded up per $100. Ask your title company for the exact figure.
What to do
- Ask the title company for taxes on your new loan amount.
- Ask whether a renewal exemption applies and what documents it needs.
- Add the taxes to the other refinance costs.
- Divide total costs by the monthly savings to find your break even.
General information, not legal or tax advice. Confirm with your title company or attorney.
Sources
- Florida Department of Revenue, Documentary Stamp Tax on Promissory Notes (TIP 24B04-01). $0.35 per $100 on notes; cap does not apply to a recorded mortgage. Source type: Official. Checked October 17, 2026.
- Sarasota County Clerk, Recording Requirements. Intangible tax of 2 mills; stamps on the total amount of the note. Source type: Official. Checked October 17, 2026.
- Jacksonville Daily Record, Saving money when refinancing. Renewal note exemption conditions under s. 201.09. Source type: Secondary. Checked October 17, 2026.