To the Editor:
There has been a dramatic change in real estate transactions in New Jersey. On July 1, 2025 the governor signed the Fiscal Year 2026 New Jersey Budget into law, which includes an increase to the Supplemental Fee to the Real Estate Transfer Fee (“Mansion Tax”), now known as the Graduated Percent Fee. A breakdown of the new tax, which will now be entirely paid by the seller, is as follows:
• $1 million: existing 1% mansion tax remains, but the responsibility shifts from the buyer to the seller, amending the…
July 23, 2025
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