Exempts senior citizens and blind or disabled persons from certain realty transfer fees.

This bill exempts the sale of owner-occupied residential property by a senior citizen or a blind or disabled person from certain State portions of the realty transfer fee. It also exempts the purchase by a senior citizen or a blind or disabled person of certain residential property from the 1% fee imposed upon the recording of title to that property if the selling price exceeds $1,000,000. The bill applies to transfers of real property occurring on or after the first day of the second calendar month following enactment.

Exempts senior citizens and blind or disabled persons from certain realty transfer fees.

This bill exempts the sale of owner-occupied residential property by a senior citizen or a blind or disabled person from certain State portions of the realty transfer fee. It also exempts the purchase by a senior citizen or a blind or disabled person of certain residential property from the 1% fee imposed upon the recording of title to that property if the selling price exceeds $1,000,000. The bill applies to transfers of real property occurring on or after the first day of the second calendar month following enactment.