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.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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