How to Calculate Florida Intangible Taxes Due on a Note
- 1). Find the correct loan amount by calling the lender to get an exact figure. If you are refinancing your mortgage, the lender may be increasing the payoff amount to include your closing costs. Since these costs are included in the new loan, intangible tax will need to be collected on the total amount when you close your loan.
- 2). Divide the correct loan amount by $1,000. Example: If the loan amount is $100,500, dividing by $1,000 will give you $100.50. This represents the number of thousands you are paying intangible tax on.
- 3). Multiply the $100.50 (from the example in previous step) by $2, which will give you $201 as the amount of Florida intangible tax to collect on a loan amount of $100,500.
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