Category: New Jersey Real Estate
New Jersey Increases “Mansion Tax” and Controlling Interest Transfer Tax
On June 30, 2025, New Jersey’s Governor Phil Murphy signed the “Fiscal Year 2026 Appropriations Act” into law, setting forth a budget for New Jersey’s Fiscal Year 2026 totaling a record $58.78 billion. Accompanying the 2026 budget, amendments were made to the existing New Jersey Realty Transfer Fee (RTF) and…
New Jersey Lawmakers Tweak Property Tax Relief Programs
New Jersey Property Tax Programs Tweaked by Lawmakers Background: New Jersey Senate Bill 3693/Assembly Bill 4706 (the “Bill”) was signed into legislation by Gov. Phil Murphy on November 1, 2024.[1] The Bill focuses on implementing the new Stay NJ property tax relief program and impacts several other state property tax…
NJ Real Property Tax Assessment Appeals
Many New Jersey property owners believe their property tax assessments cannot be challenged. They can be. Property assessments hinge on the tax assessor’s calculation of the market value of a property, and often such calculations may not be accurate or reflective of current market value. Tax assessors are in control…