New Jersey A4104 imposes an annual tax on entities owning over 20 single-family residences for investment purposes, with revenue aiding down payment.

New Jersey A4104 imposes an annual tax on entities owning more than 20 single-family residences for investment purposes, excluding certain entities like nonprofits and home builders. The tax aims to discourage large-scale investment in residential properties, which can remove homes from the market accessible to families. Revenue from the tax will fund down payment assistance for families purchasing single-family homes. The tax allows entities to reduce their portfolio by at least 10 percent annually to avoid the tax.

New Jersey A4104 imposes an annual tax on entities owning over 20 single-family residences for investment purposes, with revenue aiding down payment.

New Jersey A4104 imposes an annual tax on entities owning more than 20 single-family residences for investment purposes, excluding certain entities like nonprofits and home builders. The tax aims to discourage large-scale investment in residential properties, which can remove homes from the market accessible to families. Revenue from the tax will fund down payment assistance for families purchasing single-family homes. The tax allows entities to reduce their portfolio by at least 10 percent annually to avoid the tax.