Printable cheat sheet

Florida intangible tax cheat sheet

Built for Florida sales associate exam prep. Use this as a quick reference for the 2-mill rate, the fair-market-value cap, and the loan-versus-price setup. Verified June 20, 2026.

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Nonrecurring intangible taxTaxable secured obligation x 0.002 (2 mills)

Multiply the obligation secured by Florida real property. No $100-unit rounding.

The taxable basisThe secured obligation, not the sale price

A $400,000 home with a $320,000 mortgage owes $640, not $800.

Mortgage documentary stamps$0.35 per $100 or portion of $100

Charged on the same new mortgage, calculated separately and rounded up.

Cash purchaseNo secured obligation = $0

No mortgage or lien securing debt on Florida real property means no intangible tax. The deed may still owe documentary stamp tax.

The exam setup rule

Find the new mortgage or obligation amount, not the sale price.
Multiply the obligation by 0.002 to get the intangible tax.
Do not round. Keep the cents in the result.
Apply the fair-market-value cap if the secured Florida property is worth less than the obligation.
If the question asks for closing totals, add the $0.35-per-$100 mortgage doc stamps.
If no mortgage or lien secures debt on Florida real property, the intangible tax is zero.

Four worked examples

Standard financed purchase$400,000 home, $320,000 mortgage

Intangible tax uses the secured obligation: $320,000 x 0.002 = $640.

Odd-dollar obligation$258,400 mortgage

No rounding: $258,400 x 0.002 = $516.80 exactly.

Doc stamps plus intangible$500,000 new recorded mortgage

Stamps: 5,000 x $0.35 = $1,750. Intangible: $500,000 x 0.002 = $1,000. Total $2,750.

Cash deal$450,000 cash, no mortgage

Because no obligation is secured by a mortgage or lien on Florida real property, intangible tax is $0. Deed documentary stamp tax may still apply.

Traps to check

Do not multiply the sale price by 0.002. Use the mortgage or obligation amount.
Do not round nonrecurring intangible tax into $100 units. Multiply the exact secured obligation amount.
Do not use the $0.35-per-$100 doc stamp rate for intangible tax. Intangible tax is 0.002.
Do not charge intangible tax when no mortgage or lien secures debt on Florida real property.
Do not tax more than the secured Florida property's fair market value. If the obligation exceeds that value, cap the taxable basis at fair market value.
For a Florida line of credit, tax is generally paid on the maximum line amount, subject to the Florida real property value limit.

Sanity check

Intangible tax should be exactly 0.2 percent of the taxable secured obligation.
If your intangible tax changed because of $100-unit rounding, you used the doc stamp rule by mistake.
If the secured obligation equals the sale price, the basis choice does not change the answer, but the basis is still the secured obligation.