What is the non-recurring intangible tax, and who pays it?

The non-recurring intangible tax under F.S. § 199.133 is a one-time tax on the obligation secured by a Florida mortgage, levied at 2 mills per dollar of mortgage amount — $0.002 per $1.00, or $2.00 per $1,000. It is a vestige of Florida's broader intangible personal property tax, which was largely repealed in 2007, but the mortgage-specific application was preserved as a non-recurring tax at recording. On a $320,000 mortgage, the intangible tax is $640; on a $1M jumbo, it is $2,000. The buyer customarily pays the intangible tax in Florida (along with the mortgage doc stamps). It is collected by the county clerk at recording, alongside the F.S. § 201.08 mortgage stamps. Florida is unusual in having both — most other states impose either a mortgage recording tax or no mortgage tax at all.

Who customarily pays Florida closing costs — buyer or seller?

Florida custom splits the closing costs roughly: the seller customarily pays the deed documentary stamp tax (F.S. § 201.02) and, in most counties, the owner's title insurance policy (F.S. § 627.7825); the buyer customarily pays the mortgage documentary stamp tax (F.S. § 201.08), the non-recurring intangible tax (F.S. § 199.133), the lender's title insurance policy, lender origination fees, appraisal, survey, and prepaid escrows. Four Florida counties flip the owner's-policy convention and the buyer pays: Miami-Dade, Broward, Sarasota, and Collier. The purchase contract can vary the allocation by agreement, and frequently does on new-construction or distressed deals. This calculator surfaces the buyer-paid Florida portion in the cash-to-close figure and the full Florida total separately so you can see both sides.

Is homeowners insurance required on a Florida home?

Florida law does not require homeowners insurance for an owner without a mortgage. But every Florida residential mortgage lender requires HOI as a condition of the loan, and the standard Fannie Mae / Freddie Mac uniform mortgage instrument (used on virtually every Florida conforming loan) makes maintaining insurance a covenant of the mortgage. Walking away from coverage is a default event that triggers force-placed insurance at materially higher premiums. Florida HOI typically excludes flood (separate NFIP or private-market flood policy required for designated flood zones) and may carve out windstorm into a separate companion policy depending on coastal exposure. F.S. § 627.4133 governs the notice and renewal framework. For a relocating buyer, the binding HOI quote is one of the highest-variance items on the Loan Estimate — get the quote early in the contract period, not at closing.

What is a typical Florida property tax bill on a $400K home?

At a Florida-statewide-average 18-19 mills total, a $400K home generates an annual ad valorem property tax bill of approximately $7,200-$7,600 before any homestead exemption. With the F.S. § 196.031 homestead exemption claimed (March 1 deadline, Form DR-501 with the county property appraiser), the first $25,000 of assessed value is exempt from all taxes and an additional $25,000 from non-school taxes — saving roughly $900-$1,000/year. The Save Our Homes cap (F.S. § 193.155) then limits future annual assessed-value increases to the lesser of 3% or CPI for as long as you hold homestead. This calculator uses purchase price as a proxy for year-one just value (no SOH build-up yet); for an exact bill including the homestead stack, use the Florida Property Tax Calculator.

Should I escrow taxes and insurance with my Florida mortgage payment?

If your down payment is under 20%, your lender will almost certainly require an escrow account for taxes and insurance — the escrow protects the lender's collateral. If you are at 20%+ down on a conventional loan, escrow is generally optional in Florida, and some borrowers prefer to hold tax and insurance money in their own interest-bearing account between payment dates. The trade-off: self-managed escrow exposes you to the lump-sum hit of the November 30 property-tax payment (or the early-pay discount window starting in November) and the annual HOI renewal premium; lender-managed escrow smooths both into the monthly payment. Florida property tax is paid in arrears (the November 30 bill covers the January-December tax year just ended), and the 4-3-2-1 early-payment discount under F.S. § 197.162 rewards November payment with a 4% discount, December with 3%, January with 2%, and February with 1%.

Can I drop private mortgage insurance (PMI) on a Florida loan?

On a conventional Florida mortgage, PMI is required when down payment is under 20% of purchase price. Under the Homeowners Protection Act (HPA, 12 U.S.C. § 4901 et seq.), PMI automatically terminates when scheduled amortization brings the loan-to-value (LTV) to 78%, and you can request cancellation when LTV reaches 80% (based on the original purchase price). In a rising Florida market, you can also request a new appraisal to demonstrate that your current LTV is at or below 80% based on current market value — a particularly valuable move in Florida coastal markets that appreciated rapidly 2020-2023. FHA mortgage insurance (MIP) has a different framework — for FHA loans originated after June 2013 with under 10% down, MIP runs for the life of the loan; refinancing into a conventional product is the typical exit. VA loans have no monthly MIP at all (a Florida-relevant point given Florida's large veteran population).

How does HOA / condo dues affect my Florida mortgage qualification?

Lenders include HOA and condo dues in the front-end DTI calculation — the monthly payment-to-income ratio is computed on PITI plus HOA, not PITI alone. For a Florida condo with $800/mo dues, that is roughly an additional $200K of qualifying loan capacity 'lost' to the dues line at a 28% front-end threshold. Post-Surfside, Florida condo lenders also scrutinize the building's reserve health under F.S. § 718.112(2)(g) — buildings without a fully funded structural-integrity reserve schedule may not qualify for conforming financing at all, forcing buyers into portfolio or jumbo lenders at higher rates. For HOA-governed single-family subdivisions, dues are typically lower ($50-$300/mo) but the same DTI math applies. Pull the estoppel certificate (F.S. § 718.116(8) for condos, § 720.30851 for HOAs) before locking financing.

How is total cost of ownership different from total interest paid?

Total interest paid is just the interest component of the amortization schedule — on a $320K loan at 7% / 30y, that is roughly $446,000. Total cost of ownership adds everything else you actually pay to own the property for the loan term: principal + interest + 30 years of property tax + 30 years of insurance + 30 years of HOA dues. On a $400K Pinellas home with 20% down, the 30-year total cost of ownership runs roughly $1.05-$1.15M — meaning the 'true' multiple of purchase price is closer to 2.7x, not the 1.9x implied by purchase price plus interest alone. The Florida-specific lesson: property tax and insurance run roughly $1,000/mo on a $400K home and continue forever, including after the mortgage is paid off. Owning a Florida home is meaningfully more expensive than the principal-and-interest payment suggests.

Reviewed against F.S. § 201.02, § 201.08, § 199.133, § 627.7825, § 200.001, § 627.4133; OIR Rule 69O-186.003; Florida DOR rate schedule; Florida OIR property-insurance filings 2026; Florida-typical 2026 market rates

Florida Mortgage Calculator

Compute the real cost of a Florida home — not just the principal-and-interest payment. Layers in property tax under F.S. § 200.001, hurricane-loaded homeowners insurance under F.S. § 627.4133, HOA dues, and the Florida-specific closing-cost stack other mortgage calculators miss: deed documentary stamps (F.S. § 201.02), mortgage documentary stamps (F.S. § 201.08), the non-recurring intangible tax (F.S. § 199.133), and OIR-promulgated title insurance (F.S. § 627.7825). Surfaces cash to close, monthly all-in (PITI + HOA), affordability against the 28/36 rule, and total cost of ownership over the full loan term.

Calculator

Adjust the inputs below; the result updates instantly.

Property

Purchase price ($)

$400,000

County

Florida county. Drives the typical total millage (used for the property-tax estimator), the coastal-vs-inland HOI default, and the customary owner's-title-policy payer convention (buyer-pays in Miami-Dade, Broward, Sarasota, and Collier; seller-pays elsewhere). For an exact bill, pull the millage from the parcel's TRIM notice and override below.

Property class

Single-family residential or condominium. Drives the framing of the Miami-Dade deed-stamp rate (the $0.60/$100 rate applies to SFR; a single condo unit in Miami-Dade is technically non-SFR and pays the surtax — for that case, use the Documentary Stamp Tax Calculator). Does not change Pinellas / statewide math.

Monthly HOA / condo dues ($)

Loan

Down payment (%)

20%

Loan term (years)

Interest rate (%)

Taxes & insurance

Millage rate (total mills)

Annual homeowners insurance premium ($)

$3,500

Affordability

Gross annual household income ($)

$120,000

Monthly principal + interest (P&I)

2,128.97

Total monthly all-in (PITI + HOA): $3,053.97
Cash to close (down payment + buyer-paid Florida closing costs): $81,785.00
Total Florida-specific closing costs: $6,660.00
Total cost of ownership over the loan term: $1,099,429.20
Monthly payment as % of gross income (28% conventional threshold): 30.5% of gross income — above the conventional 28% front-end threshold
Loan amount: $320,000.00
Monthly property tax (escrowed): $633.33
Monthly homeowners insurance (escrowed): $291.67
Deed documentary stamps (F.S. § 201.02): $2,800.00
Mortgage documentary stamps (F.S. § 201.08): $1,120.00
Non-recurring intangible tax (F.S. § 199.133): $640.00
Owner's title insurance (F.S. § 627.7825): $2,075.00
Lender's title insurance (simultaneous-issue): $25.00
Total interest paid over loan term: $446,429.20
Summary: Florida mortgage on a $400,000 single-family purchase in Pinellas (St. Petersburg / Clearwater) with 20% down, 7.00% / 30yr financing: monthly P&I $2,129, total monthly all-in (PITI + HOA) $3,054. Florida-specific closing costs total $6,660 (deed stamps $2,800 + mortgage stamps $1,120 + intangible $640 + owner's title $2,075 + lender's title $25). Buyer cash to close: $81,785. Total 30-year cost of ownership: $1,099,429 (principal $320,000 + interest $446,429 + property tax $228,000 + insurance $105,000). Monthly all-in payment is 30.5% of gross income — above the conventional 28% front-end DTI threshold.

Tools to go with this

Need the Florida closing-cost verification packet before you sign the Closing Disclosure?

Fennec Press's Florida real-estate bundle includes a buyer-side Closing Disclosure verification worksheet (catches the F.S. § 201.08 mortgage stamps, F.S. § 199.133 intangible tax, and F.S. § 627.7825 title insurance lines that lenders sometimes round), a county-by-county owner's-policy customary-payer reference, a Florida windstorm + flood insurance carrier checklist, and the post-Surfside condo reserve audit template.

Open Fennec Press real-estate bundle→

Fennec Press is our sister site. Outbound link is UTM-tagged and disclosed.

How this calculator works

A generic mortgage calculator answers a narrow question: given a loan amount, an interest rate, and a term, what is the monthly principal-and-interest (P&I) payment? In Florida, that number captures roughly 60-70% of what actually leaves a homeowner's bank account each month. The remainder sits in four Florida-specific line items that generic calculators ignore:

Property tax under F.S. § 200.001 and the rest of Chapter 200. At a Florida-typical 19 mills, a $400,000 home generates about $7,600 per year, or roughly $633 per month, before any homestead exemption. In year one of a new purchase, the Save Our Homes assessment cap under F.S. § 193.155 has not yet built up, so you pay the full ad valorem amount on just value.
Homeowners insurance (HOI) under F.S. § 627.4133. Florida HOI is among the most expensive in the country because of hurricane and windstorm exposure. Typical 2026 figures: about $3,500 per year for an inland single-family home, $6,500 per year for a coastal single-family home, materially higher with separate flood coverage in flood zones.
HOA or condominium dues, common in Florida new-construction subdivisions and condo buildings. Post-Surfside, condo dues have risen sharply under the structural-integrity reserve mandate of F.S. § 718.112(2)(g).
The Florida closing-cost stack — paid once at closing rather than monthly, but large enough that no honest mortgage calculator can skip it: deed documentary stamps under F.S. § 201.02, mortgage documentary stamps under F.S. § 201.08, the non-recurring intangible tax under F.S. § 199.133, and OIR-promulgated title insurance under F.S. § 627.7825.

This calculator runs all of it in one pass and surfaces three numbers that matter: the monthly P&I (the conventional headline), the total monthly all-in (P&I plus escrowed taxes plus escrowed insurance plus HOA), and the cash to close (down payment plus the buyer-paid Florida closing costs). It also surfaces total interest paid over the loan term and total cost of ownership — principal plus interest plus 30 years of tax, insurance, and HOA — so you can see how much of "owning a Florida home" is not the mortgage payment.

The Florida closing-cost stack

This is the part generic mortgage calculators miss. Every Florida real-estate closing carries a stack of state-level transactional taxes and OIR-promulgated insurance premiums that other states either do not impose or impose at materially different rates. The pieces:

Deed documentary stamps (F.S. § 201.02) — $0.70 per $100 of consideration statewide; $0.60 per $100 in Miami-Dade County on single-family residential transfers under the home-rule carve-out preserved by F.S. § 201.031. On a $400,000 sale that is $2,800 statewide or $2,400 in Miami-Dade. Customarily seller-paid in Florida.
Mortgage documentary stamps (F.S. § 201.08) — $0.35 per $100 of the face amount of the promissory note. Statewide; no county variation. On a $320,000 loan that is $1,120. Customarily buyer-paid.
Non-recurring intangible tax (F.S. § 199.133) — 2 mills per dollar of mortgage amount, or $2.00 per $1,000. On a $320,000 loan that is $640. A holdover from Florida's broader intangible personal property tax (largely repealed 2007) preserved as a stand-alone mortgage tax at recording. Customarily buyer-paid.
Title insurance owner's policy (F.S. § 627.7825) — promulgated by the Florida Office of Insurance Regulation under OIR Rule 69O-186.003 at a five-tier per-thousand schedule: $5.75 per $1,000 on the first $100,000, $5.00 per $1,000 on $100K-$1M, $2.50 per $1,000 on $1M-$5M, $2.25 per $1,000 on $5M-$10M, and $2.00 per $1,000 above $10M. On a $400,000 home: $575 plus $1,500 equals $2,075. Customarily seller-paid in most counties; customarily buyer-paid in Miami-Dade, Broward, Sarasota, and Collier.
Title insurance lender's policy (simultaneous-issue) — flat $25 when issued at the same closing as the owner's policy on residential under $1M (OIR Rule 69O-186.003). Always buyer-paid.

Customary allocation is what most Florida title agents put on the Closing Disclosure unless the contract specifies otherwise. The Florida Realtors / Florida Bar standard contract at Paragraph 9 encodes the convention. For the buyer's cash-to-close figure, what matters is the buyer-paid portion: in a Pinellas (statewide) purchase, that is the mortgage stamps plus intangible plus lender's policy, with the owner's policy customarily on the seller's settlement side. In a Miami-Dade purchase, the owner's policy is added to the buyer's side.

A worked example: $400K Pinellas single-family home

A buyer purchases a $400,000 single-family home in Pinellas County (statewide rate jurisdiction) with 20% down, financing $320,000 at 7.0% for 30 years. The buyer is using an inland-typical HOI premium of $3,500 per year and the Pinellas-typical 19-mill total millage. The home is not in an HOA.

Monthly payment:

Monthly P&I: $320,000 at 7.0% / 30y = $2,128.92
Monthly property tax: ($400,000 x 19 / 1,000) / 12 = $633.33
Monthly HOI: $3,500 / 12 = $291.67
Monthly HOA: $0
Total monthly all-in: $3,053.92

Note that the headline P&I (about $2,129) is roughly 70% of the actual monthly outlay (about $3,054). The other $925 per month is property tax and insurance — neither of which is a "lender" cost. Both continue forever, including after the mortgage is paid off.

Florida closing-cost stack:

Deed documentary stamps (seller's customary side): $400,000 / 100 x $0.70 = $2,800
Mortgage documentary stamps (buyer's side): $320,000 / 100 x $0.35 = $1,120
Non-recurring intangible tax (buyer's side): $320,000 x 0.002 = $640
Owner's title insurance premium (seller's customary side in Pinellas): $575 + $1,500 = $2,075
Lender's title insurance (buyer's side, simultaneous-issue flat): $25
Total Florida closing costs: $6,660

Cash to close:

Down payment: $80,000
Buyer-paid Florida closing costs (mortgage stamps + intangible + lender's policy): $1,120 + $640 + $25 = $1,785
Buyer cash to close (Florida portion): $81,785

(The full cash-to-close on the Loan Estimate will also include lender origination fees, appraisal, survey, recording fees, prepaid escrow deposits, and per diem interest — items that are not Florida-specific and that we do not model here. Pull those from the lender's Loan Estimate.)

Total 30-year cost of ownership:

Principal: $320,000
Total interest paid (monthly P&I x 360 minus principal): approximately $446,412
30 years of property tax at $7,600 per year: $228,000
30 years of HOI at $3,500 per year: $105,000
30 years of HOA at $0: $0
Total 30-year cost of ownership: approximately $1,099,412

The single most counterintuitive number on this list is the 30-year property tax and insurance total: about $333,000 of ownership cost that no generic mortgage calculator surfaces and that does not go away when the mortgage is paid off. On a $400,000 home, a Florida buyer pays roughly the equivalent of another whole purchase price in tax and insurance over a 30-year horizon. That is a separate conversation from the mortgage decision — but one a buyer should have before signing the contract.

A note on Miami-Dade

The Miami-Dade variant of the same $400,000 purchase shifts two numbers materially. The deed-stamp rate is $0.60 per $100 instead of $0.70 (saving the seller $400), but the owner's title insurance policy is customarily buyer-paid in Miami-Dade (adding $2,075 to the buyer's cash-to-close). Net: the buyer's cash-to-close in Miami-Dade runs about $2,075 higher than the same purchase in Pinellas, even though the deed-side rate is cheaper. The same flip applies in Broward, Sarasota, and Collier — three of the four are coastal high-value counties where the relocating-buyer surprise is largest.

What this calculator does NOT do

This is a Florida-specific estimator. It does not:

Replace the lender's Loan Estimate. Origination fees, discount points, appraisal, survey, recording fees, prepaid escrows, and per diem interest are non-Florida-specific items that vary by lender and that you should pull from the LE rather than estimate. The Florida portion of the closing costs surfaced here is consistent across lenders because it is statutorily fixed.
Apply the F.S. § 196.031 homestead exemption or the F.S. § 193.155 Save Our Homes cap. Both apply in year two and beyond of a homestead claim and reduce the property-tax line by approximately $900 per year in year one and meaningfully more over time. For the exact bill, use the Florida Property Tax Calculator.
Compute the exact deed-stamp and intangible-tax math on edge cases. Mortgage assumptions, refinance modifications, like-kind exchanges, and no-consideration transfers (gifts, divorce-incident transfers, transfers to revocable trusts) all have nuances under F.S. § 201.02 and F.S. § 199.133. For those, use the Documentary Stamp Tax Calculator.
Compute reissue credit on title insurance. A prior owner's policy issued less than 3 years before the new closing qualifies for a 30% reissue discount under F.S. § 627.7825. For a refinance or a quick second-sale scenario, use the Title Insurance Calculator.
Compute mortgage insurance (PMI / MIP) or escrow shortage / overage. PMI is required on conventional loans with under 20% down (Homeowners Protection Act, 12 USC § 4901); FHA MIP runs for the life of the loan on FHA originations after June 2013 with under 10% down; VA loans carry no monthly mortgage insurance. Escrow shortage / overage is calibrated by the lender annually under RESPA. None of those are Florida-specific.
Substitute for a Florida-licensed mortgage broker or financial planner. For the actual loan decision — comparing 15-year vs 30-year products, conventional vs FHA vs VA, fixed vs adjustable, and the timing of the lock — consult a Florida-licensed mortgage broker or financial planner before acting on the calculator's output.

How this page is maintained

The five Florida statutory rates surfaced here — F.S. § 201.02 deed stamps, F.S. § 201.08 mortgage stamps, F.S. § 199.133 intangible tax, F.S. § 627.7825 title insurance, F.S. § 200.001 millage — have been stable across recent Florida legislative sessions. The HOI defaults track Florida OIR property-insurance filings and shift annually with the Florida market; the current numbers reflect 2026 filings post the 2023-2024 carrier-retreat correction. We refresh the rate constants and the linked OIR / DOR sources each time the relevant agency publishes a new schedule and after each Florida legislative session in case of legislative change.

Last reviewed: 2026-05-15 against F.S. § 201.02, § 201.08, § 199.133, § 627.7825, § 200.001, § 627.4133, OIR Rule 69O-186.003, and Florida OIR property-insurance filings for 2026.

FAQ

Common questions

Edge cases and clarifications around florida mortgage calculator.

A generic mortgage calculator computes principal-and-interest from loan amount / rate / term and stops there. In Florida, that number captures roughly 60-70% of the actual monthly outlay. The missing pieces are Florida-specific: (1) property tax at a typical 19 mills runs about $633/mo on a $400K home — and there is no Save Our Homes cap protecting you in year one; (2) homeowners insurance averages $3,500/yr inland and $6,500/yr coastal because of hurricane and windstorm exposure under F.S. § 627.4133; (3) HOA or condo dues, common in Florida new-construction and condo markets. Plus the one-time Florida closing-cost stack — deed stamps (§ 201.02), mortgage stamps (§ 201.08), intangible tax (§ 199.133), title insurance (§ 627.7825) — that no other state imposes in the same configuration. The 'real' Florida monthly is the P&I plus escrowed taxes and insurance plus HOA — what lenders call PITI plus HOA, what we surface as 'total monthly all-in'.

Resources

Links marked sponsoredmay earn TheFennecLab a commission. They do not affect the calculator's output. See disclosures.

Florida DBPR Online Sunshine — F.S. § 201.02 (deed documentary stamp) — deed documentary stamp tax
Florida DBPR Online Sunshine — F.S. § 201.08 (mortgage documentary stamp) — mortgage documentary stamp tax
Florida DBPR Online Sunshine — F.S. § 199.133 (non-recurring intangible tax) — non-recurring intangible tax on Florida mortgages
Florida DBPR Online Sunshine — F.S. § 627.7825 (title insurance promulgated rate) — OIR-promulgated Florida title insurance premium
Florida DBPR Online Sunshine — F.S. § 200.001 (millage rates) — Florida millage-rate framework
Florida DBPR Online Sunshine — F.S. § 627.4133 (property insurance) — Florida property insurance availability and notice
Florida Department of Revenue — Documentary Stamp Tax — DOR rate schedule and administrative guidance
Florida Office of Insurance Regulation — Title Insurance — OIR promulgated title insurance rate schedule
Florida OIR — Form OIR-B1-1802 (Title Insurance Rate Filing) — OIR Form 1802 title rate-filing reference
Citizens Property Insurance Corporation — Florida insurer of last resort — state-backed Florida residual market HOI carrier (F.S. § 627.351(6))