Q. I am going to be selling my principal residence in N.J. I’ve lived here since 1993. Do I have to pay the exit tax or a transfer tax? We may buy or rent out-of-state. — Seller A. There’s ...

The tax you’re talking about is officially known as the Realty Transfer Fee (RTF). This state-imposed fee was established in 1968 to offset the costs of tracking real estate transactions.

New Jersey imposes a mansion tax on real estate transactions that exceed $1 million. This 1% levy applies to residential and certain commercial properties, ... NJ Mansion Tax vs. Realty Transfer Fee.

Transfer taxes when selling a home. Sellers in New Jersey are required to pay a Realty Transfer Fee when the deed recording for the property being sold takes place, according to the state Division ...

The NJ mansion tax and the realty transfer tax serve different roles in real estate transactions. The mansion tax is a targeted surcharge on properties exceeding $1 million, designed to generate ...

“While some may feel the 2% minimum realty transfer tax is an exit tax, it applies to any non-New Jersey resident selling real property in New Jersey regardless of if they were a New Jersey ...

The NJ mansion tax and the realty transfer tax serve different roles in real estate transactions. The mansion tax is a targeted surcharge on properties exceeding $1 million, designed to generate ...