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\n <\/div>\n \n Connect with a Top Agent to Help Maximize Value<\/h3>\n
Even rockstar agents can’t make your tax liability disappear, but HomeLight data shows that the top 5% of agents across the U.S. help clients sell their home for as much as 10% more than the average real estate agent, helping offset the tax bill.<\/p>\n \n
Disclaimer: This post is for educational purposes only and does not constitute legal or financial advice. Links and mentions of Florida area tax services or attorneys should not be considered endorsements.<\/i><\/p>\n Real estate transfer taxes are state or local taxes that are imposed when the ownership of a property is transferred from one person to another. According to the Federal Trade Commission<\/a>, this tax is due when the title of a property\u2014essentially the official rights to ownership\u2014changes hands. This tax is a standard part of real estate transactions and is calculated based on the property’s sale price or assessed value.<\/p>\n In Florida, this is referred to as a Documentary Stamp tax, though it is functionally the same as a real estate transfer tax. Transfer taxes are also sometimes referred to as a \u201cmortgage registry tax\u201d or \u201cdeed tax.\u201d<\/p>\n The specific amount owed in transfer taxes can vary significantly depending on the property’s location. Different states, counties, and cities will have their own rates and rules governing these taxes, so there\u2019s no \u201cone size fits all\u201d solution.<\/p>\n Transfer taxes are a way for local governments to generate revenue<\/a> and support essential public services. These taxes are important to consider for anyone involved in a property transaction, as they influence the overall cost of transferring property ownership. What are transfer taxes?<\/h2>\n