Free Merritt Island, Florida seller net sheet calculator
Closing costs, transfer taxes and who pays what when selling a home in Merritt Island, Florida (Brevard County). The calculator applies the local rates for you.
- Median home value
- $379,700
- Transfer tax on $380,000
- $2,660
- Seller costs on $380,000
- About $24,754
- Median property tax bill
- $2,495 a year
- County
- Brevard County
- Population
- 34,718
Merritt Island transfer tax
On a $380,000 sale in Merritt Island, transfer taxes come to $2,660: Documentary stamp tax on deed. By custom the seller pays it. A buyer who finances 80% of the price also pays $1,672 in mortgage taxes (Documentary stamp tax on note (new mortgage) and Intangible tax on new mortgage).
| Tax | Rate | Paid by | On $380,000 |
|---|---|---|---|
| Documentary stamp tax on deed | $0.70 per $100 | Seller | $2,660 |
| Documentary stamp tax on note (new mortgage) | $0.35 per $100 | Buyer | $1,064 |
| Intangible tax on new mortgage | $2.00 per $1,000 | Buyer | $608 |
| Sale price | Seller pays | Buyer pays | Total |
|---|---|---|---|
| $250,000 | $1,750 | $0 | $1,750 |
| $380,000 local median value | $2,660 | $0 | $2,660 |
| $500,000 | $3,500 | $0 | $3,500 |
| $1,000,000 | $7,000 | $0 | $7,000 |
Example Merritt Island seller net sheet
A $380,000 sale, close to Merritt Island's median home value of $379,700, with a 5% commission and a $230,000 mortgage payoff. Seller costs come to about $24,754, or 6.5% of the price.
| Line | Seller |
|---|---|
| Sale price | $380,000 |
| First mortgage payoff | −$230,000 |
| Real estate commission (5%) | −$19,000 |
| Documentary stamp tax on deed | −$2,660 |
| Owner's title insurance policy | −$1,975 |
| Settlement / closing fee | −$550 |
| Release / satisfaction recording | −$18.50 |
| Title search and examination | −$200 |
| Municipal lien search | −$150 |
| Deed preparation | −$150 |
| Wire / courier / payoff processing | −$50 |
| Estimated net before property tax prorations | $125,246.50 |
Who pays what in Merritt Island
Merritt Island closings follow Brevard County customs. Seller customarily pays the owner's policy and chooses the closing agent in Brevard County. The settlement fee is paid by each side for its own closing. Closings are usually handled by a title company or attorney.
Property taxes in Merritt Island
The median property tax bill for homeowners in Merritt Island is $2,495 a year, about 0.66% of the median home value of $379,700 (Census Bureau American Community Survey, 2019-2023). Taxes here are paid in arrears, so at closing the bill is prorated between buyer and seller to the closing date. Brevard County Tax Collector bills Nov 1 (4% discount in Nov, 3% Dec, 2% Jan, 1% Feb; due Mar 31).
Rates verified 2026-09-30. Home value and tax bill: Census Bureau American Community Survey, 2019–2023. A net sheet is an estimate; final figures come from the title company.
Merritt Island seller questions
How much is the transfer tax in Merritt Island, Florida?
On a $380,000 sale in Merritt Island, transfer taxes come to $2,660: Documentary stamp tax on deed. By custom the seller pays it. A buyer who finances 80% of the price also pays $1,672 in mortgage taxes (Documentary stamp tax on note (new mortgage) and Intangible tax on new mortgage).
How much are seller closing costs in Merritt Island?
On a $380,000 sale, close to the median home value in Merritt Island, with a 5% commission, estimated seller costs are about $24,754 (6.5% of the price). Without commission they are about $5,754. The loan payoff and property tax proration change the final number.
What county is Merritt Island in, and does it matter at closing?
Merritt Island is in Brevard County, Florida. County and state rules set the transfer taxes and recording fees, and local custom decides who pays for title and closing. Seller customarily pays the owner's policy and chooses the closing agent in Brevard County. The settlement fee is paid by each side for its own closing.
How much are property taxes in Merritt Island?
The median property tax bill for homeowners in Merritt Island is $2,495 a year, about 0.66% of the median home value of $379,700 (Census Bureau American Community Survey, 2019-2023). Taxes here are paid in arrears, so at closing the bill is prorated between buyer and seller to the closing date. Brevard County Tax Collector bills Nov 1 (4% discount in Nov, 3% Dec, 2% Jan, 1% Feb; due Mar 31).
Other cities in Brevard County
- Palm Bay
- Melbourne
- Titusville
- Rockledge
- West Melbourne
- Port St. John
- Cocoa
- Viera West
- Viera East
- Cocoa Beach
- Satellite Beach
- Cape Canaveral
Cities near Merritt Island
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