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.
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