Question

In Florida it is customary for the seller to pay the document tax on the deed. If the sale price is $115,000, how much will the seller have to pay for the document tax?

Answer 1

805

Step-by-step explanation:

The document tax which is to be paid by the seller in Florida on deed is $0.70 per $100 of the sale value.Based on this, the document tax on the sale price of $115,000 shall be calculated as follows:

Document tax=(Sale value/100)*0.70

Sale value=$115,000

Document tax=(115,000/100)*0.70

=1,150*0.70

=805