Sticker shock at closing often comes from three small line items that add up fast: doc stamps on the deed, doc stamps on the mortgage, and the nonrecurring intangible tax. If you are buying or selling in Inlet Beach, understanding these costs helps you budget with confidence and negotiate smart. In this guide, you will learn what each tax is, the current Walton County rates, who typically pays, and how to estimate your total. Let’s dive in.
Doc stamps and intangibles explained
Florida charges taxes on certain real estate documents. The Florida Department of Revenue explains that documentary stamp tax applies to deeds that transfer property and to notes and mortgages tied to a loan. A separate nonrecurring intangible tax applies to obligations secured by Florida real property. You will commonly see both taxes on the Closing Disclosure when a mortgage is recorded. Florida DOR guidance and the county clerk confirm the rates and how they are collected locally.
Walton County rates
Walton County follows the statewide rates for these items:
- Deed documentary stamp tax: $0.70 per $100 of consideration. That equals 0.7% of the sale price. Source: Florida DOR.
- Mortgage documentary stamp tax: $0.35 per $100 of the amount secured. That equals 0.35% of the loan amount. Source: Florida DOR.
- Nonrecurring intangible tax on mortgages: 0.2% of the amount secured. Source: Florida DOR.
- County recording fees: $10 for the first page of a document and $8.50 for each additional page. Source: Walton County Clerk fee schedule.
Calculate your taxes
Use these quick formulas to estimate your costs for an Inlet Beach closing:
- Deed doc stamps = Sale price × 0.007.
- Mortgage doc stamps = Loan amount × 0.0035.
- Nonrecurring intangible tax = Loan amount × 0.002.
- Add county recording fees based on page counts from the title company. The tax is computed on each $100 or fraction thereof, which can create slight rounding differences. See the DOR guidance and rule on the per‑$100 method for details. Reference.
Example: $1,000,000 purchase with $700,000 loan
- Deed doc stamps: $1,000,000 × 0.007 = $7,000. Source: Florida DOR.
- Mortgage doc stamps: $700,000 × 0.0035 = $2,450. Source: Florida DOR.
- Nonrecurring intangible tax: $700,000 × 0.002 = $1,400. Source: Florida DOR.
- Recording fees: first page $10 plus $8.50 per additional page for each document filed. Source: Walton County Clerk.
- Illustrative totals: Seller often covers the $7,000 deed tax. Buyer with a loan often pays $2,450 + $1,400 = $3,850 plus recording fees. Always confirm exact rounding and page counts with your title company.
Example: $400,000 purchase with $320,000 loan
- Deed doc stamps: $400,000 × 0.007 = $2,800.
- Mortgage doc stamps: $320,000 × 0.0035 = $1,120.
- Nonrecurring intangible tax: $320,000 × 0.002 = $640.
- Recording fees vary by document length. Ask your title officer for the page count and exact fee. Sources: Florida DOR, Walton County Clerk.
Who usually pays
Under Florida law, all parties to a taxable document are liable for the tax, but your contract decides who pays at closing. In many Florida residential deals, the seller pays the deed doc stamps, and the buyer pays mortgage doc stamps and intangible tax if using a loan. This is common practice, yet it is negotiable and contract specific. See DOR guidance on liability and a title‑industry overview of customary allocations. Sources, customary practice summary.
Closing steps in Walton County
Most transactions are recorded and the taxes paid at the Walton County Clerk’s office, often through your title company. Walton County supports eRecording, which can speed up filing but does not change the tax rates. In unusual cases where a deed is delivered but not recorded timely, payment may be due directly to the state using an unrecorded document return. For county process details, see the Clerk’s site. Clerk resources, Florida DOR.
Exemptions and pitfalls
- Some transfers can be exempt or handled differently, such as certain spousal, government, probate, or nonprofit transfers. The DOR explains the rules and documentation required. Learn more.
- The DOR notes a cap can apply to tax on certain unsecured notes. That cap does not apply to mortgages recorded against real property, which are taxed on the full secured amount. Guidance.
- Rounding applies on each $100 or fraction thereof, so your total may be a few dollars higher than a simple percentage. Rule reference.
- Assumptions and refinances can trigger doc stamp and intangible taxes. Confirm with your title company or closing attorney based on your documents. Florida DOR overview.
Pre‑closing checklist
- Verify today’s rates and recording fees using the Florida DOR and the Walton County Clerk fee schedule.
- Ask your title company for an itemized anticipated settlement statement several days before closing.
- Confirm who pays each tax per your contract and any addenda.
- If financing, budget for both mortgage doc stamps and the intangible tax as separate line items.
- Request page counts for the deed, mortgage, and any riders to estimate county recording fees.
- Ask your title officer to show the per‑$100 rounding they used so you can match the math on your Closing Disclosure.
When you are ready to plan your numbers and move forward in Inlet Beach, our team is here to help you navigate the entire process with clarity and care. For tailored guidance on costs and a smooth closing, connect with The Kendall Hood Collection.
FAQs
What are deed doc stamp rates in Inlet Beach?
- Walton County uses the statewide rate of $0.70 per $100 of consideration on deeds, which equals 0.7% of the sale price. See the Florida DOR doc stamp page.
What is the intangible tax on a mortgage in Walton County?
- The nonrecurring intangible tax is 0.2% of the amount secured by Florida real property. See the Florida DOR intangible tax page.
Who typically pays doc stamps and intangible tax in Inlet Beach?
- Customarily the seller pays deed doc stamps, and the buyer pays mortgage doc stamps and the intangible tax when financing, but the purchase contract controls. See this customary allocation summary.
How much are Walton County recording fees for deeds and mortgages?
- The Clerk charges $10 for the first page and $8.50 for each additional page per recorded document. Check the Walton County Clerk fee schedule for details.
When are these taxes paid in an Inlet Beach closing?
- They are typically collected at closing and remitted at recording by the title company. If a deed is delivered but not recorded in time, payment may be due directly to the state as an unrecorded document. See the Florida DOR doc stamp page.
