Florida Property Transfer Tax

Florida Property Transfer Tax

What is property transfer tax in Florida?

While in Canada the buyer usually pays this tax, in Florida, it’s the opposite! However, if you want to make your offer stand out, it doesn’t hurt to put paying the transfer tax on the table.

Because of Florida’s Documentary Stamp Tax, the state can collect tax on documents executed, delivered, or recorded in Florida.

So, taxable transactions include:

  • Transfer of fee
  • Right to purchase or agreement for sale
  • Lease or lease modification agreements
  • Life estate
  • Foreclosure
  • Written obligations to pay

In all Florida counties except Miami-Dade, the property transfer tax rate is 70 cents on each $100 or portion thereof of the total consideration. However, in Miami-Dade the tax rate is only 60 cents on each $100.

Ask one of our experts to see if you qualify for exemptions or refunds.

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