On July 31, 2007, the New Jersey Association of Realtors sent a letter to Realtors advising them that they should explain the existence and impact of the realty transfer fee to our home buyers and sellers. Basically, this is a tax that is charged on home equity and homeownership. Some lawmakers in Trenton want to expand the tax to permit the state's municpatlities to levy their own taxes on home sales. For more information on this issue you can go to www.njhometax.com.
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