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$2 to $3.90 for every $500
- For standard transactions and new construction sold in 2024 for $350,000 or less, the Realty Transfer Fee is anywhere from $2 to $3.90 for every $500 over the home's sale price, up to $350,000.
www.northjersey.com/story/money/real-estate/2024/10/09/buying-selling-home-nj-real-estate-taxes-fees/74862410007/8 taxes and fees you'll face when buying or selling a home in NJ
This calculator provides an estimate of the Realty Transfer Fee (RTF) that you will need to pay when you sell real property in New Jersey. Simply enter your home’s sales price, with no commas and click calculate.*.
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Oct 11, 2022 · The State imposes a Realty Transfer Fee (RTF) on the seller of real property for recording a deed for the sale. The RTF is calculated based on the amount of consideration recited in the deed or, in certain instances, the assessed valuation of the property conveyed, divided by the Director's Ratio.
Dec 6, 2022 · See the Realty Transfer Fee Rate Schedule for no exemption, partial exemption, and new construction for total consideration not in excess of $350,000. For total consideration in excess of $350,000: $2.90/$500 of consideration not in excess of $150,000; $4.25/$500 of consideration in excess of $150,000 but not in excess of $200,000;
Transfer Tax Calculator. The Realty Transfer Fee is imposed upon the recording of deeds evidencing transfers of title to real property in the State of New Jersey.
The CITT is a 1% fee on the transfer of a controlling interest in an entity that directly or indirectly owns certain real property. The CITT is only imposed if the real property is classified as "4A Commercial" and if the consideration or other valuation of the real property is greater than $1,000,000.
Mar 21, 2024 · New Jersey's current transfer tax rate is variable, ranging from $2.00 to $6.05 per $500 and scales the more expensive a home is. For a house worth $535,982 — the median home price in the state — the transfer tax due will be about $4,288.
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What are transfer taxes in New Jersey?
The Realty Transfer Fee (RTF) was established in New Jersey in 1968 to offset the costs of tracking real estate transactions. Upon the transfer of the deed to the buyers the seller pays the RTF, which is based on their property’s sales price.
