Real Estate Math
What is the documentary stamp tax on a deed for a Florida property that sold for $425,000? (Rate: $0.70 per $100)
A$2,550.00
B$2,975.00✓ Correct
C$3,400.00
D$4,250.00
Explanation
Doc stamp tax on deed = $425,000 ÷ 100 × $0.70 = 4,250 × $0.
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