They are separate taxes with different calculations. For an ordinary taxable recorded mortgage, documentary stamp tax uses $0.35 for each $100 of secured indebtedness, including a partial $100. Florida's nonrecurring intangible tax generally uses two mills, or 0.002, on the taxable secured amount.

Consider an original example: a new $218,450 loan secured solely by Florida real property worth more than the loan, with no exemption or special adjustment.

1. Mortgage documentary stamp tax: $218,450 divided by $100 is 2,184.5. Round up to 2,185 taxable units. Multiply by $0.35 to get $764.75.
2. Nonrecurring intangible tax: multiply $218,450 directly by 0.002 to get $436.90. Do not round the debt up to a $100 unit for this calculation.
3. These two taxes together: $764.75 plus $436.90 equals $1,201.65.

That total excludes deed tax, recording charges, lender fees, and other closing costs. The purchase price and the loan amount are also different starting figures; using the sale price automatically for both mortgage taxes can produce the wrong answer.

Another distinction concerns the documentary stamp cap. The Department of Revenue describes a $2,450 cap for certain notes and written obligations, but not for tax on recorded mortgages. Do not carry that cap into a mortgage calculation.

Actual transactions can involve exemptions, renewals, or collateral in more than one jurisdiction. The intangible-tax base also has property-value and allocation rules. Review the Department's documentary stamp guidance and nonrecurring intangible tax guidance before applying the example to a closing. Our closing math guide explains how to keep separate charges organized.