What is the difference between a documentary stamp tax on a deed and a documentary stamp tax on a mortgage?

Question

precal · Answer

deed I believe is when a property is owned (no money own on it)
whereas mortgage means that the owner of the property is paying a bank to eventually be the owner of the property

anonymous · Answer

no thats not it

precal · Answer

I only defined the difference between a deed and a mortgage, not sure what type of math you are studying.  We might not be able to help, but we do try

anonymous · Answer

Yea thanks for trying, it did help me find the answer. and its Financial Algebra

anonymous · Answer

BTW it was that a Documentary stamp tax is levied at the rate of $.70 per $100 (or portion thereof) on documents that transfer interest such as a deed. But on the documentary stamp tax due for mortgages there is no limit.

precal · Answer

sorry, have not studied that before so I will not be able to help..... :(