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Miami closing cost calculator
Itemize the government taxes on a Miami-Dade condo purchase: documentary stamp tax on the deed and the mortgage, the county surtax and the intangible tax. It also shows Florida's state-promulgated title insurance premium.
Every rate comes from an official source listed below, with the date we checked it. Costs that vary by lender, company or contract are named but not estimated. Published by Eltherion, LLC.
Your estimate
Enter the price and loan amount you are considering. Your entries stay in this page and are not submitted to us.
Enter 0 for a cash purchase.
Every Miami neighborhood we cover is in Miami-Dade County.
Itemized estimate
Calculated items
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Complete the items marked “Needs input” to see a total.
| Item | Amount |
|---|---|
| Documentary stamp tax on the deedEnter the purchase price to calculate this line. [1] | Needs input |
| Miami-Dade discretionary surtax on the deedNot due on a deed conveying only a single-family residence. Florida law says that can be a condominium unit. [1][2] | Not due |
| Documentary stamp tax on the mortgageEnter the loan amount to calculate this line. [1] | Needs input |
| Nonrecurring intangible tax on the mortgageEnter the loan amount to calculate this line. [3] | Needs input |
| Owner's title insurance premium (state-promulgated rate)Enter the purchase price to calculate this line. [4] | Needs input |
| Lender's title policy issued with the owner's policyEnter the loan amount to calculate this line. [4] | Needs input |
| Government taxes | — |
| Title insurance premiums | — |
Other costs to ask about
These vary by lender, company, association and contract, so we do not estimate them.
- Lender fees, points and prepaid interest
- Escrow or settlement fees
- Title search, examination, closing fees and endorsements
- County recording fees for each document
- HOA transfer, estoppel or move-in fees
- Real estate agent commissions
- Prorated property taxes, HOA dues and insurance
Who pays
Who pays each item is negotiable and varies by contract. Read the purchase agreement and ask your escrow or title company how the costs will be split.
For documentary stamp tax, the Florida Department of Revenue says all parties to the document are liable regardless of which party agrees to pay; if one party is exempt, a non-exempt party must pay. For the intangible tax, the lender is liable but may pass the amount to the borrower. Florida DOR: documentary stamp tax; Florida DOR: nonrecurring intangible tax.
How the calculation works
“Per $100 or portion” means the amount is rounded up to the next $100 before the rate is applied, as in the Department of Revenue’s examples. The intangible tax is 0.2% of the loan, never more than the property’s value; the purchase price stands in for that value. The title premium uses the rule’s original owner’s rates on a policy for the purchase price, and the rule’s $25 simultaneous-issue charge for a lender’s policy up to that amount. A reissue rate, endorsements and related title services are not modeled.
This covers government taxes and the promulgated title premium on the price and loan you enter. Exemptions, partial interests, assumed loans and other special cases are not modeled. Compare renting and buying or estimate monthly ownership costs.
Not financial, legal or tax advice. Rates change; confirm every amount with your lender, escrow or title company, or attorney before you rely on it.
Common questions
How much is the documentary stamp tax on a Miami condo deed?
The Florida Department of Revenue sets the Miami-Dade County rate at 60 cents on each $100, or portion, of the total consideration. The rate is 70 cents in every other Florida county. On a $500,000 purchase in Miami-Dade, that is $3,000.
Does a Miami-Dade condo purchase pay the documentary stamp surtax?
Not when the deed transfers only the condo unit. Miami-Dade's 45-cent-per-$100 surtax is not due on a document that transfers only a single-family residence, and Florida Statutes section 201.031 says that residence may be a condominium unit. A deed conveying other property pays the surtax.
What taxes apply to a mortgage in Florida?
A recorded mortgage owes documentary stamp tax of 35 cents per $100, or portion, of the amount secured, with no cap. It also owes the nonrecurring intangible tax of 2 mills (0.2%) of the amount secured. The Department of Revenue says the lender is liable for the intangible tax but may pass it to the borrower.
How is title insurance priced in Florida?
The premium is set by Florida Administrative Code rule 69O-186.003. An original owner's policy costs $5.75 per $1,000 up to $100,000 of coverage, then $5.00 per $1,000 up to $1 million, with lower rates above that and a $100 minimum. Title search, examination and closing charges must be shown separately and are not included here.
Who pays these closing taxes in Miami?
Who pays is negotiable and depends on the purchase contract. The Department of Revenue says all parties to a document are liable for documentary stamp tax, whichever party agrees to pay it.
Sources
- Florida Department of Revenue: Documentary Stamp Tax. Checked .
- Florida Statutes s. 201.031: discretionary surtax (single-family residence may be a condominium unit). Checked .
- Florida Department of Revenue: Nonrecurring Intangible Tax. Checked .
- Florida Administrative Code Rule 69O-186.003, Title Insurance Rates (Florida Department of State, flrules.org). Checked .