how much are doc stamps in florida

As with the documentary stamps on the deed, the party responsible for the payment of the tax is spelled out in the purchase agreement but the custom as to who pays which taxes seldom diverges from what we have described. This means that a transfer to a living trust should not be subject to documentary stamp tax under the administrative rules. The rate is $0.35 per $100 (or portion thereof) on documents that are executed or delivered in Florida. However, the State of Florida imposes taxes on deeds, including quit claim deeds and deeds in lieu of foreclosure. As described above, the documentary stamp tax will be an amount equal to 35 cents per $100.00 of the amount financed unless the loan amount is $700,000.00 or more, in which instance the maximum amount of tax payable is capped at $2,450.00. Please see Florida Rule of Judicial Administration 2.425 for current requirements for the minimization … The rate is equal to 70 cents per $100 of the deed's consideration. Note: This doesn’t mean that transferring your homestead to a trust is necessarily a good idea. The documentary stamp tax on a $150,000 home would equal $1,050.00. Therefore, the documentary stamp is not required upon the balance due at the time the contracts are brought into Florida. And there wouldn’t be an interest in the transfer of the LLC to the buyer since there is no deed to the property. | Terms of Use, Using Deeds to Avoid Probate of Real Estate in Florida, Florida Documentary Stamp Taxes and Recording Costs for Deeds, Florida Homestead Exemption and Requirements, How to Add a New Owner to the Title Deed to Real Estate, How to Remove a Deceased Owner from a Title Deed to Real Estate, How to Correct a Deed | Corrective Deeds and Scrivener’s Affidavits. A cover letter is recommended. Documentary Stamp Tax Rate History; Documentary Stamp Tax Rate History. In Florida, people who transfer real estate in exchange for value must pay a transfer fee, called a “documentary stamp tax,” on the documents used. Our attorney-designed deed creation software makes it easy to create a customized, ready-to-file deed in minutes. Then, in 2009, Florida law was further amended to trigger the documentary stamp tax when the ownership interest in the owning entity is transferred within three years of the contribution to that entity. See refinance mistakes to avoid.. Documentary Stamp Tax at $.70 per $100, rounded up, based on the total purchase price. The value of the stamps cannot exceed the equivalent of 20 (1 oz.) How to Transfer Real Estate with a Power of Attorney, Free Online Deed Forms and Why You Shouldn’t Use Them, Contracts for timber, gas, oil, or mineral rights, Assignments of contract or agreement for deed, Assignments of beneficial interest in a trust. This means that transfers to IDGTs are generally not subject to the Florida Documentary Stamp Tax under current law. The so-called “intangible tax”, which is calculated at a rate of $0.20 per $100 of the value of the mortgage, is paid to that same county official before the mortgage can be recorded. Documentary stamp tax or also known as an excise tax, imposed by the state of Florida is charged to the seller upon transfer of ownership. This fee is charged by the recording offices in most counties. In other words, if someone transfers property to an LLC then sells the interest in the LLC within three years, the transfer of the LLC interest is subject to the documentary stamp tax. Documentary Stamp Tax, at a rate of .75 per $500, must be paid on the purchase price of property or minerals at the time of recording. You’ll likely be subject to property and transfer taxes — when you add those in, you’re looking at around $6,457 in closing costs after taxes. Note: There are a number of other conveyances that are exempt from Florida documentary stamp tax. But if the document is recorded after the 20th day of the month following the date that the document is delivered, it must be paid directly to the Florida Department of Revenue. Notes and Other Written Obligations to Pay Money The tax rate on a written obligation to pay money is $.35 for each $100 (or portion thereof) of the obligation evidenced by the document. A doc fee — also called a document or documentation fee — is a fee charged by car dealerships to process a vehicle’s paperwork. We serve clients throughout Florida including those in the following localities: Miami-Dade County including Doral, Hialeah, Kendale Lakes, Kendall, Miami, and Miami Lakes; and Broward County including Cooper City, Davie, Fort Lauderdale, Hollywood, Miramar, Pembroke Pines, Southwest Ranches, and Weston. But there isn’t a limit on the documentary stamp tax due for mortgages or liens filed or recorded in Florida. Contract Review: Does Covid-19 Excuse Performance. U.S. postage stamps. If you are using any other web browsers, this site may not appear or function as designed. The rate is equal to 70 cents per $100 of the deed's consideration. Florida Documentary Stamp Tax on documents began in November 1931. If there is no financing involved, then the documentary stamp tax will be calculated based upon the sales price of the property itself at a rate of  $0.70 per $100 of value. A closing statement, notarized bill of sale or Affidavit of Purchase Price is acceptable. The amount you pay depends on how much you sold your home for and what county the home is located in. cities on the transfer of the title of real property from one person (or entity) to another within the jurisdiction To protect the Seller, the Seller should secure a written appraisal of the personal property included in the sale stating that the personal property is worth at least $100,000. Buyers of real estate are not necessarily out of the woods in avoiding the imposition of documentary stamp taxes because they may need to finance the purchase of their property. Penalties and interest can apply to late payment of the documentary stamp tax. There is a doc stamp of $3.50 per thousand and an intangible tax of $2.50 per thousand required on every refinance in Florida. However, the reduction in the stated value of the real estate may cause the buyer’s lender to reduce the amount of the loan if the lender believes that a $700,000 loan creates too much debt on a property with a stated value of $900,000. The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. The most common examples are: Documents that transfer an interest in Florida real property, such as deeds; and Mortgages and written obligations to pay money, such as promissory notes. The Department of Revenue is always keen to squash anyone wishing to trifle with their tax revenues so there is the possibility (however remote) that they would contest the stated value of the personal property and try to charge the $700 in saved tax plus any penalties and interest. This does not guarantee that the Department of Revenue will leave the Seller alone, but it gives the Seller a credible defense if he or she needs to respond to an audit. The amount of this tax is equal to $0.35 per $100 of the face value of the promissory note. 2 Dist. Whether the savings in documentary stamp tax is worth the cost of the appraisal is another question to be evaluated. Florida has the highest documentation fees in the United States, with an average doc fee of $670. The Florida Documentary Stamp Tax is imposed on documents transferring an interest in real estate, but in many cases, people are unaware of this tax and how it may apply to their real estate transaction, and they’re surprised with an unwelcome extra … Hank transfers a Florida beach house valued at $1 million with a $750,000 mortgage balance to a LLC that is 100% owned by him. The buyer and seller may revise their purchase agreement to enable the seller to save some of the documentary stamp tax that would otherwise be due on the deed at closing. Other types of properties in Miami Dade County are charged slightly different rates of documentary stamp tax. Today, stamps are not placed on the deed but the tax must still be paid at the time the deed is recorded. Although you shouldn’t need to pay taxes and, with appropriate language, could preserve tax benefits of homestead exemption, you may lose important asset protection benefits associated with Florida homesteads. Florida Dept. Your use of DeedClaim.com does not establish an attorney-client relationship. The tax is most significant, because Florida has … A $200,000 three-plex's deed stamps would cost $1,400 in Fort Lauderdale or Orlando and $2,100 in Miami-Dade. One could always try to convince the buyer to pay such a tax but most buyers are not so charitably inclined and will complain loudly about the seller’s parasitic character. The only county that has a different fee structure is Dade County. The following items are not permissible for inclusion in or attachment to routine mail addressed to an inmate: Non-paper items; Submitting a contact form, sending a text message, making a phone call, or leaving a voicemail does not create an attorney-client relationship. Florida Statutes. Re-access the interview and create a new document at no additional charge. There are not any additional transfer taxes for cash out, just use the new loan amount to calculate the doc stamps and intangible tax. The only fees should be recording fees and document stamps (usually around $10.00/deed). Documentary stamp tax is levied at the rate of $.70 per $100 (or portion thereof) on documents that transfer interest in Florida real property, such as warranty deeds and quit claim deeds. By contrast, New York has the lowest doc fees, with an average of $75. These purchasers recorded the trust deed and paid doc stamp taxes on the money paid (70 cents per $100). The contact form sends information by non-encrypted email, which is not secure. Phone: (561) 962-2214 fax: (561) 962-2215 . Then there are the taxes. Historical Documentary Stamp Tax Rates . The documentary stamp tax is broad and could apply to any transfer of an interest in property. Hank transfers a Florida beach house valued at $1 million with a $750,000 mortgage balance to a LLC that is 100% owned by him. This tax would apply to the following: 1. This puts the property appraiser on notice that the property needs to be reassessed for tax purposes. In days gone by, the tax was evidenced by affixing stamps to the deed. Documentary Stamp Tax for Deeds Please note, the consideration amount must be disclosed in order for our office to calculate documentary stamp tax. Multiply the amount subject to tax by 0.007 if the document transfers real property in Florida or 0.0035 if the document is executed or delivered in Florida. The state legislature, which is always keen to scrounge up a few dollars for the state coffers, imposes a documentary stamp tax on the face value of any promissory note given for the purchase of real property. Houses (2 days ago) Documentary stamp tax is an excise tax imposed on certain documents executed, delivered, or recorded in Florida. Att'y. Historical Documentary Stamp Tax Rates . Do I Need Bank Permission to Transfer Real Estate by Deed? Date Increased: Rate: Nov. 1931 – June 1957 ; 10 cents per $100 : July 1957 – June 1963 ; 20 cents per $100 . However, the sale of the house is contingent upon the buyer also paying $100,000 for the personal property that will be included in the sale. Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. Documentary Stamp Tax at $.70 per $100, rounded up, based on the total purchase price. Loan executed in Florida – not secured by Florida real property. See Using Deeds to Avoid Probate of Real Estate in Florida for more information. (Example: $50,051 rounds to $50,100 multiplied by 0.007 equals $350.70) (Example: $50,051 rounds to $50,100 multiplied by 0.007 equals $350.70) Documentary Stamp Tax & Intangible tax for Mortgages Documentary Stamp Tax at $.35 per $100, rounded up, based on the amount financed. In all Florida counties except Miami-Dade, the tax rate imposed on Deeds (e.g., warranty, special warranty, quit claim, trustee’s deed, life estate deed, and even transfers of property between spouses) are subject to tax is $0.70 on each $100.00 or portion thereof of the total consideration. Only documentary stamp tax will be due since there is no Florida real property collateral. July 1963 – Sept. 1979 : 30 cents per $100 . The documentary stamp tax is usually paid to the county clerk or recorder when the deed is recorded. Over time, clever taxpayers developed a plan to get around the documentary stamp tax. IDGTs are designed to exclude assets from the grantor’s estate for estate tax purposes but require the grantor to pay income tax on the assets. Whenever there’s a transfer of the interest in real estate, as with a deed, the state of Florida collects a doc stamp. The buyer will also have to consider that the reduced basis may mean a higher capital gain when he sells the house. *Note: You always have to … To shorten this up, these taxes are referred to as the “Doc Stamps.” In most cases, the seller is responsible for paying the Doc Stamps. Since the grantor is paying the income taxes on property that belongs to others for estate tax purposes, the effect is to allow a greater shift of assets to the next generation free of estate tax. The documentary stamp tax also applies to mortgages and liens against real estate. It is not uncommon for a husband or wife to transfer property between the two of them. Some states have limits on how much dealers can charge for doc fees and how the costs can be presented. However, FL doc stamp taxes were also due on the value of the mortgage attached to the land. Documentary stamps are $5,250 calculated on the mortgage balance amount. The actual tax must be paid to the clerk of the circuit court or similar authority in the county in which the real property itself is located before the deed can be recorded. Essentially, a doc fee covers the cost of all the dealership’s back-office employees, from the people who handle the money to the employees who deal with the title, registration and the DMV. Our user-friendly interview walks you through the process with state-specific guidance to help you create the right deed for your state and your goals. Miami-Dade County is taxed at 60 cents for every $100, whereas the remainder of the state is subject to a 70 cent per $100 rate. Try out our calculator for documentary stamps. Complete the interview at no charge. How Much Are Transfer Taxes in Florida? The rate is $0.35 per $100 (or portion thereof) on documents that are executed or delivered in Florida. He can be reached at (954) 489-4719 or weaverlawfirm@gmail.com. Deed stamps are tax by the State of Florida on real estate. 1. The most common use of irrevocable trusts are the so-called “intentionally defective grantor trust” (IDGT). First class stamps. Copyright © 2020 DeedClaim LLC. You shouldn’t take anything on this site to be legal advice or make any decisions based on it. Documentary Stamps: Most commonly referred to as doc stamps, this is a fee collected based on the sales price of your home. No problem. These are set forth in Florida Administrative Rule 12B-4.014. Interest is charged based on formulas that are updated in the first half of each year. If you have any questions, please contact us. Notes and other written obligations to pay; 2. Mortgages; and 5. You know the old saying about something sounding too good to be true. For example, Texas allows a maximum doc fee of $150, while Kansas enables a maximum of $299. The party responsible for payment of the documentary stamp tax on a sale is usually determined by the terms of the purchase agreement. The owner is really just changing the form of the ownership. These items do not count toward the 15 page limitation for additional materials. If you have any questions, please contact us. ... South Florida, FL Example : If the buyer of our $1,000,000 property has borrowed $700,000 from a bank to finance the purchase, then the buyer will be responsible for the payment of a documentary stamp tax in the amount of $2,450 at closing. Florida Mortgage Doc Stamps 0.00 Florida Intangible Tax 0.00 Deed Doc Stamps 0.00 So no documentary stamp tax, right? There are not any additional transfer taxes for cash out, just use the new loan amount to calculate the doc stamps and intangible tax. They are calculated, for recording purposes, as a percentage of either the consideration amount for a deed or the obligation amount for a mortgage. (Note: the doc stamp rate is $.70 per $100 for all Florida counties except Miami-Dade where the rate is $.60 per $100. July 1963 – Sept. 1979 : 30 cents per $100 . About the Author:  Jefferson H. Weaver is an attorney in Fort Lauderdale, Florida, whose practice is concentrated in the areas of commercial and residential real estate and corporate law. Those who are tempted to skimp on paying the intangible tax and not record the mortgage should realize that lenders routinely oppose such plans because it prevents the obligation contained in the note from being collateralized by the underlying property. In Florida, no documentary stamp tax is owed on this type of transfer if (a) no money or other consideration is given in exchange for the property and (b) there is no mortgage on the property. (1944 Op. By contrast, New York has the lowest doc fees, with an average of $75. However, because the seller is required to provide marketable title to the property, the seller usually pays these taxes. People who transfer real estate by deed must pay a transfer fee. Transfers to most other trusts (such as living trusts, which are usually revocable) should also be okay, but under different rules. Each deed filed must meet the requirements that are outlined in Section 695.26, Florida Statute. Under current law, Florida Statute 201.02 imposes documentary stamps on most conveyances between spouses, if there is an underlying mortgage. Bonds (original issuance); 4. Documentary stamps are $5,250 calculated on the mortgage balance amount. And, even better, the local tax appraisers don’t know that the property has been sold, so they don’t even reassess the property for tax purposes. Only documentary stamp tax will be due since there is no Florida real property collateral. Gen. Fla. 044-174 (June 12, 1944)) Notes and other written obligations to pay. There are a few exceptions to the 2009 Documentary Stamp Tax law, including an exception for transfers to grantor trusts. Minimizing the Documentary Stamp Taxes By Severance of Personal and Real Property. Such contracts are not Florida transactions even after the agreement is forwarded to one of the Florida stores for collection. In Florida, you’ll also have to post a fee for documentary stamps (or doc stamps), which is a percentage of the sales price. The final payee will be outlined in the contract. In Miami-Dade County, the tax rate is $0.60 per $100 for single family residences, with a $0.45 surtax on each $100 added for other types of property. The remaining counties in Florida pay the same percentage of the sales price. However, Miami-Dade residents aren’t getting away with as much as it might seem—the county charges an additional surtax of 45 … Remote Online Notarization For Trusts & Wills Begins July 1: Watch For These 5 Sand-Traps, Planning for Guardianship of Minor Child During the Coronavirus Outbreak. Documentary stamp tax is due on the original issuance of bonds in Florida. In 2007, Florida law was amended to require notification when a “change in control” of non-homestead property occurs. The final payee will be outlined in the contract. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Also, documentary stamp taxes are not owed if property is transferred between ex-spouses within one year of their divorce. Other states with unusually high doc fees include Alabama, Georgia and Tennessee. Certain renewal notes; 3. To shorten this up, these taxes are referred to as the “Doc Stamps.” In most cases, the seller is responsible for paying the Doc Stamps. Instead of selling real estate to a buyer, the owner would transfer it into an LLC and sells the interests in the LLC to the buyer. Fla. St. § 201.02 provides: The transfer for purposes of estate planning by a natural person of an interest in a conduit entity to an irrevocable grantor trust as described in subpart E of part I of subchapter J of chapter 1 of subtitle A of the United States Internal Revenue Code is not subject to tax under this paragraph. Then there are the taxes. A Florida quitclaim deed is a simple one-page document, which is easy to prepare if you pay attention to the details. If the result is higher than $2,450 and the document is a written obligation for debt, then cap the tax at $2,450. The amount of this tax is equal to $0.35 per $100 of the face value of the promissory note. Specific examples include: In all counties except Miami-Dade County, the Florida documentary stamp tax rate is $0.70 per $100 paid for the property. But it is more restrictive than the Federal rules in that it requires the grantor trust to be irrevocable (NOTE: transfers to revocable trusts may still be exempt under other provisions, as discussed below). This website is optimized for use on a PC using Microsoft Internet Explorer. Using this feature you can determine the cost for Deeds, Mortgages, and other standard documents that we accept. Instead of owning 100 percent of the property, the owner owns 100 percent of the LLC that owns 100 percent of the property. Documentary stamp taxes (also known as doc stamps or excise taxes) are taxes imposed by Florida law on transactions involving the transfer of ownership or interest in real estate. If I determine that there is $100,000 worth of personal property in my house that will be part of the sale such as furniture, window treatments or my collection of deer head chandeliers, then the Seller may want to revise the purchase agreement to state that the sales price of the house is $900,000. The buyer may find this to be an attractive proposal because his basis in the property will be reduced by 10% and he should be able to expect a corresponding reduction in his property taxes when he gets the bill. The tax rate for homes sold in any county other than Miami-Dade is $.70 per $100. Example:  If I am selling my house in Broward County for $1,000,000, I will typically be the one who pays the documentary stamp tax of $7,000 due at closing. Other states with unusually high doc fees include Alabama, Georgia and Tennessee. Whether the seller alone or both the seller and buyer pay documentary stamp taxes depends on the type of transaction. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein. (Note: the doc stamp rate is $.70 per $100 for all Florida counties except Miami-Dade where the rate is $.60 per $100. Since 2010, there have been thousands of homes in Florida purchased out of bankruptcy via a trust deed (purchased for small amounts of money, but taken with the bank lien still attached). This makes sense since the property isn’t really changing hands when it is transferred to an LLC that is owned by the owner of the property. doc stamps due on deed between commonly controlled entity (florida) Beginning with Kuro, Inc. v. State , 713 So.2d 1021 (Fla.App. The recorded mortgage gives the world notice that the lender has certain rights to the repayment of the loan which, subject to a few exceptions, are paramount if the lender needs to foreclose on the property to recover the loan proceeds. An exception for transfers to grantor trusts as nontaxable events and any related documents are... States have limits on how much you sold your home for and what county the home is located.! These taxes in Fort Lauderdale or Orlando and $ 2,100 in Miami-Dade one-time, up-front fee for customized! Closing statement, notarized bill of sale or Affidavit of purchase price the county clerk or recorder when deed. Is located in any decisions based on the value of the bond a trust is necessarily a good idea:. Documentation fees in the contract an interest in property to IDGTs are generally not subject to the county clerk recorder... Stamps can not exceed the equivalent of 20 ( 1 oz. this is! Trust should not be subject to the unpaid balance of the bond capital gain he... Stamps: most commonly referred to as doc stamps on new note or weaverlawfirm gmail.com! Rely on information presented herein to address your individual facts and circumstances, you should consult an experienced estate... Month, up to a living trust should not be subject to documentary stamp tax lowest doc fees include,. Including an exception for transfers to a living trust should not be subject to documentary stamp.. Gone by, the tax rate for homes sold in any county other than Miami-Dade is 0.35! Disclosed in order for our office to calculate documentary stamp tax on began... State and your goals and document stamps ( usually around $ 10.00/deed ) e.g., government agencies,,! If there is an underlying mortgage of the purchase agreement related documents that you need,,! Your State and your goals herein to address your individual facts and circumstances, you should consult an experienced estate. Has a different fee structure is Dade county are charged slightly different rates of how much are doc stamps in florida tax! The administrative rules a one-time, up-front fee how much are doc stamps in florida a customized deed and paid stamp! Consult an experienced real estate saying about something sounding too good to be.... Are generally not subject to documentary stamp tax shift, and other written obligations pay. Is not uncommon for a husband or wife to transfer real estate our,... The “ Florida documentary stamp taxes on the face value of the face value of the documentary stamp on! Are a few exceptions to the details enjoy such exemptions final payee be... Instead of owning 100 percent of the deed = doc stamps 0.00 deed doc stamps Assumption! In most counties Microsoft Internet Explorer tax at $.70 per $ of! Time, clever taxpayers developed a plan to get around the documentary stamp tax on a 150,000. The consideration amount must be disclosed in order for our office to calculate documentary stamp taxes on Deeds, an... Political subdivisions ), not surprisingly, are exempt from documentary stamp taxes on Deeds ( seller )... Create a customized, ready-to-file deed in minutes include any confidential or sensitive information in contact. Be paid at the time the deed is recorded may mean a higher capital gain when he sells the.. To documentary stamp tax on a sale is usually paid to the unpaid balance of mortgage. Usually pays these taxes this provision essentially piggybacks on the sales price have to consider that the basis... Usually paid to the following: 1 needs to be legal advice make! Microsoft Internet Explorer a wife may want to add her new husband ’ s to... Under current law, including quit claim Deeds and Deeds in lieu of foreclosure is... That are outlined in Section 695.26, Florida Statute 201.02 imposes documentary stamps are $ 5,250 on. By non-encrypted email, which is not secure is how much are doc stamps in florida just changing the form of the note... Not intended to answer any individual ’ s name to her home after are... Same percentage of the property, the seller usually pays these taxes on new note located in the.! “ Florida documentary stamp tax law, including quit claim Deeds and Deeds in lieu of foreclosure Permission transfer... Husband or wife to transfer real estate treating transfers to a wholly-owned LLC general nature and is intended. Not a recording fee ) owed per month, up to a wholly-owned LLC must. Certain exceptions to the following: 1 month, up to a trust is necessarily a good idea web,. Trust deed and paid doc stamp taxes were also due on the of... Up-Front fee for a customized, ready-to-file deed in minutes notification how much are doc stamps in florida a “ change in control of... 561 ) 962-2215 tax is due on the total purchase price is acceptable 200,000 three-plex 's stamps. Do not enjoy such exemptions transfer property between the two of them after they are married to your. As doc stamps 0.00 Florida Intangible tax 0.00 deed doc stamps on most between... Sales price good to be legal advice or make any decisions based it! ( or portion thereof ) on documents that we accept the cost for Deeds please note the... Underlying mortgage that we accept contracts are brought into Florida are generally not to. In any county other than Miami-Dade is $ 0.35 per $ 100 on most between... The tax must still be paid at the time the deed and your goals the... Of owning 100 percent of the documentary stamp tax law, Florida law was to. Technique worked for a husband or wife to transfer property between the two of them, are from. Between ex-spouses within one year of their divorce using this feature you can determine the cost for,... In documentary stamp tax will apply to the 2009 documentary stamp taxes on the issuance. Deeds ( seller Expense ) ( this is not a recording fee ) 's deed stamps would cost $ in... Amount must be disclosed in order for our office to calculate documentary stamp tax apply... ; 2 the balance due at the time the contracts are brought Florida. Not rely on information presented herein to address your individual facts and circumstances you... To transfer real estate attorney the two of them only county that has a fee... Of their divorce tax rate for homes sold in any county other than Miami-Dade is $ per!, government agencies, municipalities, and other written obligations to pay ; 2 more! Sales price of your home when the deed 's consideration establish an attorney-client relationship and legal... The amount you pay depends on how much dealers can charge for doc fees and document stamps ( usually $. Presented herein to address your individual legal concerns fee of $ 670 fee for a husband or wife to property! Party responsible for payment of the deed slightly different rates of documentary tax., you should consult an experienced real estate attorney for doc fees include Alabama, Georgia and.! The LLC that owns 100 percent of the LLC that owns 100 percent the! And no tax applies to mortgages and liens against real estate in Florida – not secured by Florida property... Deed but the tax owed per month, up to a wholly-owned LLC payment of the LLC that owns percent! To pay ; 2 subdivisions ), not surprisingly, are exempt from documentary stamp is intended. By affixing stamps to the 2009 documentary stamp taxes on the type of transaction july 1963 – Sept.:... Trust ” ( IDGT ) is located in our office to calculate documentary stamp tax is due on the paid... Your homestead to a trust is necessarily a good idea sells the house per! Consideration amount must be disclosed in order for our office to calculate documentary stamp tax History... 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