Florida Real Estate Practice Exam 2025 – The Complete All-in-One Guide to Master Your Exam Success!

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Question: 1 / 400

How do you calculate the Intangible Tax on New Mortgages?

Loan amount x 0.001

Loan amount x 0.002

Intangible tax on new mortgages is typically calculated as a percentage of the loan amount. The tax rates can vary by state and can range from 0.001% to 0.004%. Option A, C, and D use different tax rates which are not correct for this calculation. Using those rates would result in an incorrect tax amount. Option B uses the correct tax rate and would provide the accurate intangible tax amount for a new mortgage.

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Loan amount x 0.003

Loan amount x 0.004

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