Eliminates tiered fee structure for fees and taxes on property transfers over $1 million in New Jersey.

New Jersey A2852 eliminates the tiered fee structure for fees and taxes on property transfers valued over $1 million. The bill imposes a uniform fee rate of one percent for any transfer of real property exceeding $1 million, reverting to the rate before the enactment of P.L.2025, c.69. It also allows certain sellers to apply for a refund of additional fee amounts paid in excess of one percent for specific transactions. The bill applies to transfers occurring on or after its enactment date.

Eliminates tiered fee structure for fees and taxes on property transfers over $1 million in New Jersey.

New Jersey A2852 eliminates the tiered fee structure for fees and taxes on property transfers valued over $1 million. The bill imposes a uniform fee rate of one percent for any transfer of real property exceeding $1 million, reverting to the rate before the enactment of P.L.2025, c.69. It also allows certain sellers to apply for a refund of additional fee amounts paid in excess of one percent for specific transactions. The bill applies to transfers occurring on or after its enactment date.