S 3309
Eliminates tiered fee structure for fees and taxes imposed on property transfers valued over $1 million.
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Sign in to take action- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Bill overview
This bill eliminates a tiered fee structure currently applied to property transfers valued over $1 million in New Jersey. The existing system imposed increasing percentages of the consideration as fees based on property class. The bill simplifies this by establishing a single, uniform one percent fee on all such transfers. It also provides a mechanism for refunds to be claimed for additional fees paid under the previous tiered system, specifically for transactions completed before July 1, 2026, and executed prior to January 1, 2026.
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