Florida Statute 199.133 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XIV
TAXATION AND FINANCE

Chapter 199
INTANGIBLE PERSONAL PROPERTY TAXES

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199.133 Levy of nonrecurring tax.—

(1) A one-time nonrecurring tax of 2 mills is hereby imposed on each dollar of the just valuation of all notes, bonds, and other obligations for payment of money which are secured by mortgage, deed of trust, or other lien upon real property situated in this state. This tax shall be assessed and collected as provided by this chapter.

(2) The nonrecurring tax shall apply to a note, bond, or other obligation for payment of money only to the extent it is secured by mortgage, deed of trust, or other lien upon real property situated in this state. Where a note, bond, or other obligation is secured by personal property or by real property situated outside this state, as well as by mortgage, deed of trust, or other lien upon real property situated in this state, then the nonrecurring tax shall apply to that portion of the note, bond, or other obligation which bears the same ratio to the entire principal balance of the note, bond, or other obligation as the value of the real property situated in this state bears to the value of all of the security; however, if the security is solely made up of personal property and real property situated in this state, the taxpayer may elect to apportion the taxes based upon the value of the collateral, if any, to which the taxpayer by law or contract must look first for collection. In no event shall the portion of the note, bond, or other obligation which is subject to the nonrecurring tax exceed in value the value of the real property situated in this state which is the security.

History.—s. 10, ch. 85-342; s. 10, ch. 2006-312.

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Amendments to 199.133

Annotations, Discussions, Cases:

Cases Citing Statute 199.133

Total Results: 6 | Sort by: Relevance | Newest First

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Rodash v. AIB Mortg. Co., 16 F.3d 1142 (11th Cir. 1994).

Cited 16 times | Published | Court of Appeals for the Eleventh Circuit

...We need not address this unsupported assertion, noting only that the appellees’ own action in this case undercuts this claim as they in fact treated a courier fee as part of the finance charge. . The nonrecurring intangible tax is 0.2 percent. Fla.Stat.Ann. § 199.133(1) (West 1989)....

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Nussbaum v. Mortg. Serv. Am. Co., 913 F. Supp. 1548 (S.D. Fla. 1995).

Cited 14 times | Published | District Court, S.D. Florida | 1995 U.S. Dist. LEXIS 20131, 1995 WL 798521

...In further support of this point, just three weeks after the Rodash decision, the Florida Senate adopted H.B. 2557 announcing that in Florida creditors have always been authorized to pass on the intangible tax to borrowers. This clarifying amendment provides that, "[w]ith respect to the nonrecurring tax imposed pursuant to § 199.133, that taxpayer shall be solely liable for payment of the tax but may pass on the amount of such tax to the borrower or mortgagor." Fla.Stat....

...The Florida Legislature appears to have meant no substantive change in Florida law by this amendment. It was enacted, "for the purpose of clarifying and confirming the existing authority of mortgage lenders, under applicable law and practice, to pass on to borrowers and mortgagors the nonrecurring tax imposed pursuant to section 199.133, Florida Statutes." Fla.Legis....

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Nikooie v. JPMorgan Chase Bank, N.A., 183 So. 3d 424 (Fla. 3d DCA 2014).

Cited 2 times | Published | Florida 3rd District Court of Appeal | 2014 Fla. App. LEXIS 20020, 2014 WL 6911148

...Chapter 199 imposes “a one-time non-recurring tax of 2 mills on the just valuation of all notes, bonds and other obligations for the payment of money which are secured by a mortgage, deed of trust or other real property situated in this state.” § 199.133(1), Fla....

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Great W. Bank v. Shoemaker, 695 So. 2d 805 (Fla. 2d DCA 1997).

Cited 1 times | Published | Florida 2nd District Court of Appeal | 1997 WL 253030

...Bank United of Texas, FSB, 70 F.3d 937, 942-43 (7th Cir.1995); 12 C.F.R. § 226.4(a) (Supp. I 1996) (Official Staff Interpretation). Finally, we agree with the holding in Pignato v. Great Western Bank, 664 So.2d 1011 (Fla. 4th DCA 1995), that Florida's intangible tax, section 199.133, Florida Statutes (1995), may be excluded from the finance charge because it is prescribed by law, paid to public officials, and is necessary for the perfection of a security interest....

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First Coast Cmty. Bank v. Cheshire Contractors of Nassau, Inc., 863 So. 2d 362 (Fla. 1st DCA 2003).

Published | Florida 1st District Court of Appeal | 2003 Fla. App. LEXIS 17725, 2003 WL 22735473

...This section dictates that the mortgage is not enforceable until all the proper taxes have been paid. Any deficiency in the tax is a matter for governmental enforcement and not a limitation on the amount secured as erroneously determined by the trial court. The required taxes on a mortgage are set by other statutes, such as section 199.133, Florida Statutes, without limitation as to the amount....

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West Flagler Assocs., Ltd. v. Dep't of Revenue, 633 So. 2d 555 (Fla. Dist. Ct. App. 1994).

Published | District Court of Appeal of Florida | 1994 Fla. App. LEXIS 2283, 1994 WL 81884

COPE, Judge. This is an appeal of a summary final judgment denying a refund for the payment of intangible personal property tax. We reverse. The question before us is whether section 199.133, Florida Statutes (1989), applies to an unconditional guaranty which is secured by a mortgage on real property located in this state....

...The Croixland guaranty was secured by a mortgage on real estate located in Dade County, Florida, owned by appellant West Flagler Associates, Ltd., a Florida limited partnership. 1 When the mortgage was recorded, West Flagler paid intangible personal property tax under section 199.133, Florida Statutes (1989), in the amount of $31,570....

...In connection with that transaction, SWFE executed a guaranty of the note. The Corpus Christi Guaranty was secured by a mortgage on real estate located in Dade County, Florida, and owned by West Flagler. When the mortgage was recorded, West Fla-gler paid intangible personal property tax under section 199.133, Florida Statutes (1989), in the amount of $17,640. Appellants (collectively “West Flagler”) brought suit for a refund, contending that these guaranties are not within the scope of section 199.133. The trial court entered summary judgment in favor of appellee Florida Department of Revenue. This appeal follows. Subsection 199.133(1), Florida Statutes (1989), provides: A one-time nonrecurring tax of 2 mills is hereby imposed on each dollar of the just valuation of all notes, bonds, and other obligations for payment of money which are secured by mortgage, deed of trust, or other lien upon real property situated in this state....

...an unqualified promise to pay the note. ■ “From its face money may or may not become due under it.” Metropolis Pub. Co. v. Lee, 126 Fla. at 112-113 , 170 So. at 444 . That being so, the two guaranties here at issue are not within the scope of section 199.133, Florida Statutes (1989)....