New Jersey Real Estate Transfer Tax
One thing that I explain to my clients who are selling their New Jersey Home is that the State of New Jersey imposes a Real Estate transfer tax. This is a tax imposed on Sellers by the State of New Jersey pursuant to N.J.S.A. 46:15-5 et seq. This tax was first enacted in 1968. A reduced Realty Transfer Fee is available to senior citizens, blind persons, and disabled persons on the sale of one-or two-family residences which they own and occupy, and on the sale of low and moderate income housing.
The calculation is a little complicated, so I have compiled the table below. This law has been amended several times and I am not a lawyer. Therefore please note that the actual amount due will be calculated by the title clerk. The table below is to be used for illustrative purposes only.
| Sales Price | Non Exempt and New Construction | Senior Citizen/Blind Disabled/Low Income | |
| $50,000 | $200 | $50 | |
| $100,000 | $400 | $100 | |
| $150,000 | $600 | $150 | |
| $200,000 | $935 | $275 | |
| $250,000 | $1,325 | $400 | |
| $300,000 | $1,715 | $525 | |
| $350,000 | $2,105 | $650 | |
| $400,000 | $3,215 | $1,495 | |
| $450,000 | $3,695 | $1,710 | |
| $500,000 | $4,175 | $1,925 | |
| $550,000 | $4,655 | $2,140 | |
| $600,000 | $5,185 | $2,405 | |
| $650,000 | $5,715 | $2,670 | |
| $700,000 | $6,245 | $2,935 | |
| $750000 | $6,775 | $3,200 | |
| $800,000 | $7,305 | $3,465 | |
| $850,000 | $7,835 | $3,730 | |
| $900,000 | $8,415 | $4,045 | |
| $950,000 | $8,995 | $4,360 | |
| $1,000,000 | $9,575 | $4,675 |
If you have any other real estate related questions, feel free to text, email or call me. I am a Realtor & Real Estate Consultant that specializes in Burlington & Camden County
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Leander McClain, Camden & Burlington Township Realtor & Real Estate Consultant, Atlantic & Pacific Real Estate, 103 Carnegie Center, Princetonl, NJ 08540 609-505-6578 (direct)
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