State Nonrecurring Intangible Tax on Mortgages

Definition: Florida's one-time tax on obligations secured by Florida real property, calculated at 0.002 of the applicable taxable amount. The base is limited by the value of the Florida collateral and other statutory rules.

Example

A $220,000 debt fully secured by Florida property worth more than that amount produces $440 of tax when no exemption applies.

Keep the distinction clear

This tax is separate from documentary stamp tax and is not calculated by rounding up to $100 units. Unrecorded mortgages can also create liability.

Related terms

Documentary Stamp Tax (Doc Stamps) · State Documentary Stamp Tax on Notes · Mortgage

Keep studying

Documentary Stamp and Intangible Taxes

References: Florida DOR: nonrecurring intangible tax

Pronunciation (US): STATE non-ree-KUR-ing in-TAN-juh-bul TAKS (capitals show stress)

Pronunciation reference: Merriam-Webster