Everybody pays the stamp duty/transfer of title tax. It is based on a percentage of the cost that you paid for your property. Whether the amount is considered ridiculous or not please don't make the mistake of thinking it is a "gringo" foreigner only fee. Belizeans pay the stamp duty/transfer tax based on the same percentage rate as non-Belizeans. This fee is paid in to the central government coffers, not locally.

The national budget is under discussion right now. It makes for interesting reading.