The Quick Read: The extra Miami-Dade charge is a surcharge on deeds, and a cash-out refinance records no new deed, so it adds nothing to your closing costs. Two other Florida taxes do apply to the new loan, and both grow with the loan amount. A jumbo balance means bigger tax lines, but the surtax is not one of them. A deed only enters the picture if title changes hands alongside the refinance.
What Is the Miami-Dade Surtax, Exactly?
The surtax is an extra deed charge in Miami-Dade County. It applies to deeds on property that is not a single-family residence. It does not follow your mortgage.
Florida’s documentary stamp tax lands on several kinds of documents: deeds, notes, and mortgages. Each document carries its own rate. The statewide deed rate is 70 cents per $100 of the price paid. Miami-Dade is the exception. A single-family home there pays 60 cents per $100 on the deed. Any other property type pays that same 60 cents plus a 45-cent surtax per $100, according to the Florida Department of Revenue’s documentary stamp tax guide.
Notice where the surtax lives. The state’s guide places it only in the deed section. The sections on notes and mortgages never mention it.
That is the whole mechanism. If your transaction does not record a deed, the surtax has nothing to attach to.
One more disambiguation, because search results mix them up. This is not the county sales-tax surtax. It is not the vehicle surtax either. Those are different charges on different transactions.
Why a Cash-Out Refinance Skips It
You already own the home. A cash-out refinance replaces your old loan with a new, larger one. The new loan creates a new note and a new mortgage. Title stays in your name, so no new deed gets recorded.
A title firm that publishes a Florida stamp calculator says the same thing in plain terms. Atlantic Title Firm notes that a refinance needs no new deed, so no deed stamp applies. It also says the mortgage-note stamp is the same in every Florida county, Miami-Dade included. That is practitioner commentary, not the statute. It matches the state’s own guide, though.
A purchase works differently. A purchase records a deed, so the deed-side rules apply. Whether the surtax shows up then depends on the property type.
Here is the premise behind the title: many people assume a Miami-Dade address adds a county penalty to every big loan. It does not. County location changes the deed math. It leaves the loan math alone.
Which Florida Taxes Do Hit a Jumbo Cash-Out?
Two do. Both attach to the new loan, and both scale with its size.
Documentary stamp tax on the note and mortgage. The rate is 35 cents per $100 of the obligation. The Florida Senate’s statute, s. 201.08, sets that rate. It also says that when both a mortgage and a note exist, the tax is paid on the mortgage at recording. You are taxed once on the secured loan, not twice.
Nonrecurring intangible tax. This is a small, one-time, percentage-of-loan state tax on notes secured by a mortgage on Florida real property. It comes from Chapter 199 of the Florida Statutes. Ask your title or closing agent for the current figure on your file.
A cap exists in the statute: $2,450 on the stamp tax for the type of documents the statute describes there. The Department of Revenue describes that cap as applying to unsecured notes. A home loan secured by a mortgage is taxed on the mortgage itself. Do not count on the cap to limit your tax on a jumbo balance.
Does jumbo status change any of this? No. The stamp rate on a note and mortgage is the same for a conforming loan and a jumbo one. Only the base grows, because the loan is larger.
How Is a Jumbo Cash-Out Underwritten, Step by Step?
Think of the Florida taxes as one piece of closing cost. The underwriting is a separate track. Here is how a jumbo cash-out file moves, based on the wholesale programs Lendmire works with.
1. The loan is classified. A loan becomes jumbo when it exceeds the conforming limit for the county. The Federal Housing Finance Agency sets those limits. Its annual limits addendum explains the formula. High-cost areas apply where 115 percent of the local median home value exceeds the baseline. The local limit cannot run more than 50 percent above the baseline. The county figure is not quoted here because it changes yearly. FHFA has a county lookup. A loan above your county’s limit is jumbo, and Fannie Mae and Freddie Mac cannot buy it.
2. The lane is chosen. Jumbo is a family of programs, not one loan. Across the wholesale lanes Lendmire works with, borrowers can find fixed, adjustable, and interest-only structures. Each lane has its own leverage, ratio, and reserve rules.
3. Credit and leverage are checked. The headline lane works from a 660 decision score. Leverage on the strongest lanes reaches 90 percent. Several lanes reach 89.99 percent combined loan-to-value (the first loan plus any second liens, divided by the home’s value). The rest stop at 80 percent. Cash-out is held to lower leverage than a purchase. The largest lanes also put a cash cap on the cash you can pull out. Each lane’s exact limits are subject to lender guidelines.
4. Ratios are tested. The debt-to-income ratio compares your monthly debts to your monthly income. The fixed lanes allow a 50 percent ceiling. The adjustable lanes stop at 45 percent. The interest-only lanes stop at 43 percent.
5. Reserves and appraisals scale with the amount. Reserves are measured in months of your full housing payment, and the requirement rises as the loan grows. Above a lane’s threshold amount, two appraisals are required. Loans reach $5,000,000 on the largest lanes.
6. Taxes and fees land on the disclosures. Florida’s stamp and intangible taxes are priced into the closing figures. More on where they show up below.
Every figure above is subject to full file review. None of it is a commitment to lend.
Lendmire’s jumbo cash-out refinance program page lays out the lanes side by side if you want to see how leverage and structure change from one to the next.
Does the Tax Base Follow the Whole Loan or Just the Cash Out?
It follows the face amount of the new obligation. That is the full new loan, not only the cash you pull out. The state taxes the note and the mortgage you are signing now.
Credit for tax paid on your old loan is where this gets technical. A Florida appellate decision from the 1st District Court of Appeal describes a bank agreeing that additional stamp and intangible taxes were owed when refinanced loans exceeded the original amounts. See the court’s opinion. The takeaway: a cash-out refinance can raise the taxable amount, and renewal treatment can change it. Your title or closing agent works out the exact base on your file.
Picture two homeowners with the same house. One refinances to a loan sized at a moderate share of the value. The other takes a jumbo loan twice as large. The second owner’s stamp tax is roughly double the first’s, because the rate is a flat cents-per-$100 charge on the larger base. The surtax is zero for both.
That is the practical lesson on sizing. A bigger cash-out costs more in state taxes. Weigh that when you decide how much equity to take.
Which Taxes Attach to Which Transaction?
This table sorts it out. The last column is a pointer, not a price.
| Transaction | Deed-side tax | Note and mortgage tax | Surtax possible? |
|---|---|---|---|
| Purchase | Yes | Yes | Non-single-family only |
| Cash-out refinance | No new deed | Yes | No |
| Rate-and-term refinance | No new deed | Yes | No |
| Refinance plus deed | Possible | Yes | Property type decides |
Read the last row carefully. It is where the exceptions live.
When a Deed Does Change Hands
Some refinances come with a deed recorded alongside them. Common reasons include adding or removing a spouse, or moving title into a trust or an LLC. A deed-type transfer can trigger deed stamps.
The Department of Revenue’s guide says that when the property is mortgaged, tax on an interspousal transfer is generally due on half of the outstanding mortgage balance. The property-type rule then applies. A single-family residence pays the 60-cent rate. A home that is not a single-family residence could carry the surtax.
So the surtax can show up in a refinance only through a side door: the deed. If your plan involves a title change, tell your loan officer and your title agent at the start. Do not assume the answer. Sort out the deed question before you size the loan.
Condos and townhouses
The state’s guide says “single-family residence.” It does not settle whether a condo counts. Treat the question as open and ask your title agent or the county clerk. If a condo is your collateral, the lender side matters too: two of the wholesale lanes accept non-warrantable condominiums, which are condos that fall outside standard agency project rules.
Second homes and rentals
If the property is not your primary home, occupancy changes the underwriting and the leverage, and a second-home or investment cash-out typically prices differently. Florida’s document taxes depend on the document and the property, not on how you use it. That is all this article covers on that point.
Collateral in more than one state
Stamp and intangible taxes can be apportioned when collateral sits partly out of state. A Florida law firm’s explainer covers the idea. This is rare on a home loan. Raise it with your closing agent if it applies.
Where the Taxes Show Up on Your Paperwork
Your Loan Estimate and Closing Disclosure carry these taxes in the “Other Costs” area. The Consumer Financial Protection Bureau’s guide to the two forms places taxes and government recording fees under “Taxes and Other Government Fees.” You will not find a line called “surtax” on a cash-out refinance. If you do, ask why.
On a refinance, you pay these charges. No seller is involved. In a purchase, custom in Florida usually puts the deed stamp on the seller and the note stamp on the buyer, but the contract can change that.
Taxes in this section either reduce your net proceeds or get paid out of pocket, depending on how the closing is structured. They are one-time costs. They touch your monthly payment only if they are rolled into the loan.
The Bureau also tells borrowers to compare the final figures with the Loan Estimate. Its Closing Disclosure page explains how. Do it line by line.
Common Mistakes With This Tax
Running the surtax on the loan amount. Some online calculators do this. The surtax belongs to deeds only. If a tool shows a surtax on your refinance, the tool is wrong, or a deed is involved.
Quoting a combined “Miami-Dade rate.” Some pages blend the deed rate and the surtax into one number. That figure describes a non-single-family deed. It is not a loan tax.
Calling the 60-cent rate “homestead.” The state’s guide uses “single-family residence.” Homestead is a different concept.
Assuming jumbo means a higher state mortgage tax. The rate is the same. The base is bigger.
Assuming a refinance needs a new deed. It does not.
Waiting until closing to ask. Bring up any title change, trust transfer, or condo question before you lock in your cash-out amount.
Checklist: What to Ask Your Closing Agent
Before you commit to a cash-out size, get answers to these:
- Will a deed be recorded with this refinance?
- Is my property classed as a single-family residence?
- What is the taxable base on the new note, and does credit for tax on my old loan apply?
- What is the current intangible tax on this loan?
- Where will each tax appear on my Loan Estimate, and does it match the Closing Disclosure?
- Will the taxes come out of my proceeds or be paid in cash?
Six questions. Ask them in writing if you can.
Key Terms Defined
Surtax: An extra charge added on top of a base tax. In Miami-Dade, it sits on deeds for property that is not a single-family residence.
Documentary stamp tax: A Florida tax on documents such as deeds, notes, and mortgages. Each document has its own rate.
Nonrecurring intangible tax: A one-time Florida tax on a note secured by a mortgage on Florida real property.
Deed: The document that transfers ownership of a property. A cash-out refinance does not record a new one.
Cash-out refinance: A new, larger loan that pays off your old one and gives you the difference in cash.
Jumbo loan: A mortgage above the conforming limit for your county. Fannie Mae and Freddie Mac cannot buy it.
Combined loan-to-value (CLTV): Your total mortgage debt on the home, divided by its value.
Reserves: Savings left after closing, measured in months of your full housing payment.
What the Decision Looks Like in Practice
Start with your goal. If you plan to pull equity from a home you already own, expect the note-and-mortgage stamp tax and the intangible tax. Expect no surtax. Size the cash-out with those costs in mind, since both scale with the loan.
Then check the deed question. A title change turns the deed-side rules back on. Property type then decides whether the surtax can apply.
Finally, compare the program fit. Across the wholesale jumbo lanes, leverage, ratios, reserves, and appraisal rules shift with the loan amount. A larger loan may mean more reserves and two appraisals. Ask early which lane your file fits. For another angle on large-balance requirements, see Lendmire’s article on how much liquidity a $3M super jumbo loan requires on a cash-out.
Tax treatment can depend on your situation; borrowers should speak with a qualified tax professional before relying on any deduction or credit.
If you are weighing a cash-out refinance against keeping the loan you have, Lendmire can help you compare the programs and the equity each one reaches.
Frequently Asked Questions
Does the Miami-Dade surtax apply to my refinance?
No. It is a deed surtax on property that is not a single-family residence. A refinance records a new note and mortgage, not a new deed. If a deed is recorded with your refinance, such as a transfer into a trust, ask your title agent whether the surtax could apply.
Why is my jumbo cash-out tax bigger than a smaller loan’s?
The stamp tax is a flat rate per $100 of the new obligation, so a larger loan carries a larger tax. The intangible tax also scales with the loan. Jumbo status itself does not change either rate. The base is simply bigger.
Is the tax on the whole new loan or only the cash I take out?
It generally follows the face amount of the new note. Credit for tax paid on your old loan can change the taxable amount, and the rules for that are technical. Your title or closing agent runs the figure for your file.
My online calculator shows a surtax on my loan. Is it right?
Probably not. The surtax is a deed charge. A calculator that applies it to a loan amount is mixing up two document types. Compare it against your Loan Estimate and ask your closing agent to explain any line you do not recognize.
Does a condo or townhouse change the answer?
It can matter only if a deed is recorded. The state’s guide says “single-family residence” and does not clearly settle condos. Confirm with your title agent or the county clerk before assuming either way.
For your own numbers, request a scenario review with Lendmire.
About Lendmire
As a mortgage broker (NMLS# 2371349), Lendmire helps homeowners and home buyers in 16 states with FHA, VA, conventional and jumbo purchase and refinance loans arranged through wholesale lenders. Lendmire is never the lender; program terms are set by the lender and the agency guidelines. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.
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References
1. Florida Department of Revenue, Documentary Stamp Tax guide
4. FHFA, conforming loan limits addendum
5. Fla. 1st DCA opinion No. 2024-0153
6. Florida law firm’s explainer
7. CFPB, Guide to the Loan Estimate and Closing Disclosure forms
This article is part of Lendmire’s Jumbo Loans series — every loan program’s qualification details, guidelines, and scenarios live on the loan options page.
Related reading: How Much Cash a High-Earning W-2 Owner Can Take on a Jumbo Cash-Out · How Much Cash in Hand a Jumbo Cash-Out Allows Past the Conforming Limit · How Much a Jumbo Cash-Out Refinance Gives a W-2 Earner for a Second Home
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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Disclosure information. Lendmire is a state-licensed mortgage brokerage under NMLS# 2371349. Lendmire is not a depository institution, direct lender, or financial advisor — all loans referenced are placed through wholesale lender partners and are subject to each lender's underwriting standards. This article is provided for general informational purposes and is not a commitment to lend, nor does it constitute financial, legal, or tax advice. Loan programs, terms, rates, and qualification standards change without notice and depend on borrower profile, property type, and the state in which the subject property is located. Equal Housing Opportunity provider. NMLS Consumer Access: nmlsconsumeraccess.org.