The state documentary stamp tax on notes must be paid before a note can be recorded in the public records.
It is an amount paid to the local clerk of the court at the rate of $0.35 per $100 or fraction thereof on the total amount of the note
This tax is paid on the face value of new notes and the unpaid balance of any assumed notes
This is a one-off tax and is not paid every year
The buyer normally pays this tax at closing
On the closing statement it is normally shown as a debit to the buyer which is an expense to the buyer